Petrol prices have jumped across Nigeria, with some northern states now selling at ₦1,500 per litre. Major cities are recording prices of about ₦1,430 per litre. The latest increase comes as global oil prices react to the escalating U.S-Iran conflict. As a result, higher crude prices are putting more pressure on Nigeria’s fuel market.
The Nigeria Labour Congress (NLC) has urged the Federal Government to act quickly. NLC President Joe Ajaero called for reasonable wage awards for workers. He also demanded more crude supply to local refineries in naira. In addition, the labour group wants the government to expand petroleum storage capacity. It also said emergency measures, including subsidies, should not be ruled out.
Across several states, motorists are already feeling the pressure. Petrol now sells for ₦1,500 to ₦1,520 in parts of Damaturu, Yobe State. Kano, Sokoto and Borno have also recorded prices around ₦1,500. Taraba has seen prices rise to between ₦1,500 and ₦1,700. In Mubi, Adamawa State, petrol has reached ₦1,850 per litre. Kaduna, Benue, Kogi, Plateau, Bauchi and Rivers are also above ₦1,400.
Meanwhile, Dangote Petroleum Refinery raised its petrol gantry price to ₦1,350 on September 12. The refinery has increased the price four times since August 21. Its gantry price has moved from ₦1,165 to ₦1,350. Fuel marketers expect further increases if crude prices keep rising.
IPMAN spokesperson Chinedu Ukadike urged government intervention. He proposed cheaper crude for local refineries and a review of some distribution charges. Higher petrol prices are already affecting transport fares. In Kano, some tricycle operators have raised fares by about 50 per cent.
