Transport fares have increased in many parts of Nigeria after petrol prices rose to as much as ₦1,400 per litre, driven by a sharp increase in global crude oil prices.
Brent crude surpassed $100 per barrel following renewed tensions in the Middle East, Peak Newspaper reports.
Dangote Refinery resumed petrol loading in naira but increased its ex-depot price from ₦1,075 to ₦1,215 per litre, while many fuel depots also raised their prices.
Commuters, commercial drivers, and small business owners across states such as Lagos, Abuja, Kaduna, Ilorin, Adamawa, and Borno said the higher fuel costs have increased transportation expenses and operating costs. Some transport fares have risen by 20–40%, although a few areas have delayed fare hikes due to weak passenger demand.
Energy experts said Nigeria’s deregulated fuel market means local petrol prices now closely follow global crude oil prices and exchange rate movements. They added that limited crude supply under the naira-for-crude arrangement and ongoing international conflicts are making it difficult to keep petrol prices stable.
Many Nigerians have called on the Federal Government to take urgent steps to reduce the burden of rising fuel and transport costs, warning that continued increases will worsen the country’s cost-of-living crisis.
