(DDM) – Nigerians are facing a deepening fuel crisis as the price of petrol hits ₦1,400 per litre across major filling stations in the country.
DDM learned that the unprecedented surge in petrol prices has sparked widespread public concern, affecting transportation, goods prices, and the cost of living for millions of citizens.
Analysts attribute the steep rise to a combination of global oil price fluctuations, currency depreciation, and domestic supply constraints.
Motorists in major cities, including Lagos, Abuja, and Port Harcourt, expressed frustration over long queues at filling stations as they scramble to secure limited supplies.
Transport unions warned that the price hike could lead to increased fares for commuters and higher logistics costs for businesses, further impacting economic activities.
Government officials acknowledged the situation, stating that efforts are underway to stabilise the supply and mitigate the impact on ordinary Nigerians, though no immediate relief measures have been announced.
Economic experts note that rising petrol prices often trigger a domino effect on inflation, driving up the cost of basic commodities and services nationwide.
Residents reported using alternative means of transport, including motorcycles and shared rides, to cope with the escalating fuel costs.
Small businesses that rely on daily fuel consumption are also feeling the pinch, with some warning of reduced operating hours or price adjustments for goods and services.
The National Union of Road Transport Workers (NURTW) called on the government to intervene urgently to prevent further hardship for commuters and vulnerable communities.
Observers warn that if petrol prices remain at these levels, public discontent could escalate, putting pressure on policymakers to implement long-term solutions for fuel affordability.
Some industry insiders suggest that increasing local refining capacity and improving fuel supply chains could help stabilise prices, while others argue that temporary subsidies may be necessary to ease immediate burdens.
Consumers and social commentators took to social media to express outrage and demand accountability from relevant authorities for the persistent rise in fuel costs.
The petrol price spike adds to a series of economic challenges faced by Nigerians, including inflation, power shortages, and rising food costs, exacerbating public frustration.
Analysts emphasise that tackling fuel affordability is crucial not only for economic stability but also for maintaining social cohesion and public confidence in governance.
The government is expected to convene stakeholders in the petroleum sector soon to discuss strategies aimed at stabilising supply and addressing pricing concerns.
