Petrol now sells between N1050 — N1300 across states
The sudden spike in the price of petrol across several parts of Nigeria on Saturday heightened economic anxiety among citizens, with many commuters, motorists and small business operators describing the latest development as yet another heavy blow to already struggling households.
Across major cities and state capitals, Nigerians woke up to a new reality where the pump price of Premium Motor Spirit (PMS) climbed sharply overnight, leaving consumers stunned and frustrated as they grapple with the rising cost of transportation, food and other basic necessities.
The situation became even more alarming after the pump price reportedly jumped from about ₦830 per litre to well above ₦1,000 in many locations, prompting Nigerians to question the speed and transparency of the pricing adjustments while triggering panic buying in several cities as motorists rushed to filling stations in fear of further increases.
For many citizens, the abrupt adjustment has compounded the hardship associated with the economic reforms introduced by President Bola Ahmed Tinubu’s administration, forcing families and businesses to rethink their daily spending just to stay afloat.
Commercial drivers, commuters and other vehicle users who spoke to Sunday Tribune on Saturday said the increase could not have come at a worse time, as they are already battling soaring prices of food items, rent, electricity and other essential goods.
They lamented that adding higher fuel costs to the list of financial pressures is stretching their survival limits.
In interviews across several states by our correspondents, many consumers expressed anger and disbelief that such a steep price increase could occur without prior notice, leaving thousands stranded at filling stations or forced to adjust suddenly to new pump prices that vary widely from one station to another.
The situation has also triggered fresh fears that transport fares, market prices and the cost of everyday services could surge again in the coming days, deepening the economic strain on ordinary Nigerians who say they are already overwhelmed by the rising cost of living.
Consumers groan in Oyo over increase of petrol pump price to ₦1,020 per litre
Consumers and other end users of Premium Motor Spirit (PMS), popularly known as petrol, have expressed frustration over what they described as the sudden increase in pump price from about ₦925 to ₦1,020 and above in some parts of Oyo State.
The sudden hike, it was gathered, caught many consumers unaware as there was no prior notice of the adjustment.
In the early hours of Friday in Ibadan and adjoining communities, fuel was still being dispensed at between ₦920 and ₦925 per litre.
However, by evening of the same day, most filling stations had adjusted their pump prices to between ₦1,020 and ₦1,080 per litre.
While some filling stations began selling at the higher rates, others shut their gates to customers on Friday.
The development led to long queues at some stations, while the familiar sight of residents moving around with 5 and 10-litre jerry cans in search of fuel resurfaced across parts of the ancient city of Ibadan.
By Saturday morning, some of the filling stations that were shut on Friday reopened to customers but under a new price regime.
A petrol attendant at a filling station in Odo-Ona area of Oluyole Local Government Area, who identified himself as Tajudeen Akanmu, told our correspondent that they received information about the increase late on Friday.
During a visit to the Nigerian National Petroleum Company (NNPC) filling station in the Soka area of Ibadan, it was observed that the station was selling PMS at ₦1,080 per litre.
Similarly, Alleluyah Oil in the same Soka area was dispensing petrol at ₦1,080 per litre, although there was no queue at the station.
Energy Switch filling station, also located in the Soka area, was equally selling PMS at ₦1,080 per litre.
Speaking with our correspondent, a motorist, Dayo Adebayo, appealed to the government to urgently address the increase in fuel prices.
According to him, many filling stations were shut the previous day, while those that reopened on Saturday were selling at about ₦1,080 per litre.
“We appeal to the government to help find solutions to the increase in the price of petroleum. Yesterday, many filling stations were shut, and those that opened today are selling at about ₦1,080 per litre,” he said.
No queues in Lagos as NNPC, Mobil, others sell petrol 1,030 per litres
Motorists and residents expressed surprise following the N221 increase in pump price of petrol for the second time in one week.
This has seen petrol stations belonging to NNPCL, Mobil, TotalEnergies and MRS, among others, selling petrol between N,1 030 and 1,040 in Lagos on Saturday.
The upward review in petrol pump price, they observed, followed Dangote Petroleum Refinery’s increased petrol gantry price to N995 per litre on Friday.
This marked a sharp N221 rise within four days, amid volatility in global crude oil prices and shipping costs.
Narrating his experience, a motorist, who did not mention his name, said the price displayed on when he drove into RainOil filling station on the Lagos-Ibadan Expressway was N930 per litre, but was shocked that at the point of dispensing the fuel he was told the price had gone up to N1,035 per litre.
One of the mechanics in Aboru, Jamiu Jimoh, said the upward review started since Wednesday.
“For instance, on Wednesday, most of the filling stations adjusted their pump price from slightly over N830 to over N930, a development attributed to the ongoing hostilities between United States of America, Israel and Iran.
“It was a rude shock to see that the price was further raised yesterday night to over N1,000.”
Interestingly, despite the increase, as noticed in most of the filling stations visited in Lagos, MRS, AP, Mobil and others, there was, however, no queue, as motorists and individuals were seen moving in and out of the filling stations visited.
A finance expert and public affairs commentator, Mr. Biyi Adesuyi, described the development as not unusual.
“Whenever there is crisis in the Middle East or oil-producing region, we would always witness this type of development,” he argued.
Residents lament as petrol sells between ₦1,280 and ₦1,550 per litre in Port Harcourt
The cost of PMS fluctuated across Port Harcourt, leaving residents and commercial transporters grappling with the financial strain caused by inconsistent pump prices.
Investigations by Sunday Tribune revealed significant price variations among filling stations within the city.
As of 4:00 p.m. yesterday, the Nigerian National Petroleum Company (NNPC) retail outlet along Stadium Road was dispensing petrol at ₦1,280 per litre.
In sharp contrast, Nelly Val Oil and Gas, another station within the metropolis, sold the same product for as high as ₦1,550 per litre.
The disparity has triggered frustration among consumers who say they are bearing the brunt of the market volatility.
A commercial driver identified simply as Uche expressed frustration over the development, attributing the sudden surge to adjustments in depot prices by the Dangote Refinery.
He pointed to what he described as a troubling pattern in the conduct of some filling station operators.
“Some filling stations that were still selling old stock at ₦850 per litre yesterday immediately increased their pump price after hearing about the refinery’s price adjustment,” Uche lamented.
“This happened despite the fact that the fuel in their tanks was purchased at the previous rate.”
Uche further criticised the pricing practices within the industry, noting that marketers are usually quick to increase pump prices whenever there is an upward adjustment but often slow to reduce them when costs decline.
Amid the growing concerns, a resident, Daddy-Echenne, called on the government to intervene decisively to address the situation.
He urged the authorities to strengthen regulatory oversight to protect consumers, support modular refineries to boost local production, and implement policies that would ensure stable and affordable fuel prices for Nigerians.
Hardship deepens as fuel price rises to N1,100 in Benin
Residents of Benin, the Edo State capital also decried the sharp increase in the pump price of as the product now sells for between ₦1,050 and ₦1,100 per litre at many filling stations across the city.
Checks by Sunday Tribune on Saturday showed that the product, which was previously sold for between ₦650 and ₦700 per litre in the metropolis, has recorded a sudden surge, leaving motorists, commuters and other residents groaning under the weight of the rising cost.
Some consumers who spoke with Sunday Tribune lamented that the latest hike has further worsened the economic hardship facing many Nigerians, noting that transport fares, as well as the prices of goods and services, are already beginning to increase as a result of the development.
The residents therefore called on the Federal Government to urgently intervene and address the situation, warning that the continued rise in the price of petrol could further worsen the living conditions of ordinary Nigerians.
Petrol sells for N1100 per litre in Delta
In Delta state, petrol stations adjusted their pump prices indiscriminately and dispensed between N1000 to 1100 per liter.
Investigation revealed that some filling stations which sold the product at N950 on Friday adjusted to N1025 and N1050 on Saturday.
On the last count however, Rain oil along the expressway in Asaba, Ogwashi Uku and Agbor which sold the product on Friday at N950 per liter upped the prices to between N1025 and N1150 per liter.
Adagor filling stations in Ogwashi Uku dispensed the product on Saturday at N1100 per liter
PMS rises to N900 in Imo
In Owerri and its environs, the price of a litre of Premium Motor Spirit (PMS), commonly known as petrol, has risen from about ₦860–₦870 to around ₦900 per litre.
Prior to the latest adjustment, a litre of petrol was sold for between ₦860 and ₦870 at several filling stations in the area.
A vehicle owner who spoke with the Sunday Tribune in Owerri said he purchased a litre of fuel at One More Global filling station for ₦860 just a day earlier.
Findings by Tribune indicate that many filling stations in Owerri have been selling PMS at varying prices ranging between ₦860, ₦870, ₦890 and ₦900 per litre, depending on the outlet.
Motorists, car owners and commercial bus drivers now choose where to buy fuel based on the price offered by individual filling stations.
Queue resurfaces in Ilorin
In Ilorin, the Kwara State capital, fuel queues resurfaced on Friday afternoon at many filling stations across the city.
Sunday Tribune gathered that several filling stations remained shut on Friday, as they did not open for fuel sales.
However, by Saturday, stations that had fuel available resumed sales but with an increase of about ₦100 compared to the previous prices of ₦930 and ₦935 per litre.
The current pump prices now range between ₦1,020, ₦1,050 and ₦1,051 per litre, while some stations sell as high as ₦1,080 per litre across the state.