Nigerians woke up to another wave of fuel and gas price hikes, as the pump price of petrol reportedly jumped from ₦905 to ₦955 per litre at NNPC and private-owned stations — marking the second increase in just one week.
The shocking rise comes alongside a massive surge in cooking gas (LPG) prices, now hitting ₦3,000 per kg, up from ₦1,000 two weeks ago! A 12.5kg cylinder that once cost ₦12,500 now goes for ₦37,500 in Lagos, Abuja, and beyond.
According to IPMAN’s PRO, Chinedu Ukadike, the increase stems from logistics and supply challenges, with Dangote Refinery raising its loading price from ₦825 to ₦845 per litre. Meanwhile, NNPC retail outlets are selling at ₦955 per litre across parts of Abuja.
This double blow has left many Nigerians groaning under economic pressure.
Ukadike said, “I will say that when people are scrambling for products, it results to hike in price. Some marketers, who paid to buy about three million litres from Dangote, were only given one million litres, as they complained of products being rationed, amongst marketers.”
