Nigerians Outraged, Groan As Fuel Price Hits N1,030 Per Litre, Marking A Staggering 430% Increase Under Tinubu’s Administration

ABUJA, NIGERIA – The Nigerian National Petroleum Company Limited (NNPCL) has once again sparked public outrage after announcing a new fuel price increase, pushing the cost of petrol to N1,030 per litre.

This latest hike represents a 14.8% jump from the previous price of N897 and a staggering 430% increase since President Bola Tinubu took office.

The announcement has ignited widespread criticism, with citizens expressing growing frustration over the relentless rise in fuel prices, which has severely impacted the cost of living and exacerbated existing economic hardship.

Security expert Iyke Odife has warned that the escalating situation could lead to widespread insecurity, as people resort to desperate measures to survive.

Adeniran Taiwo, Programs, Research and Public Relations Officer of Transparency Accountability for Development Initiatives (TADI), echoed these concerns, calling for immediate presidential intervention and the dismissal of those responsible for the mismanagement of the country’s oil sector.

“This is a clarion call to all Nigerians who are struggling every day,” Taiwo stated. “The fuel crisis has drained our nation’s resources and eroded public confidence in the government’s ability to alleviate hardship.

How can citizens hold firmly to the hopes anchored in President Bola Tinubu’s Renewed Hope agenda?”

Taiwo further emphasized the devastating consequences of systemic corruption within the NNPCL, accusing the government of failing to provide transparent and effective leadership.

He highlighted the irony of Nigeria’s continued reliance on fuel imports despite the billions of dollars allocated to the rehabilitation of domestic refineries, which remain non-operational.

The latest price increase has also been met with disappointment over the lack of relief expected from the Dangote Refinery, which was initially seen as a potential solution to the fuel supply crisis.

Instead, Nigerians continue to face rising fuel costs and a lack of progress in addressing the structural issues plaguing the energy sector.

The impact of the fuel crisis is deeply felt across all segments of Nigerian society.  As of September 2024, Nigeria’s inflation rate has soared to 24.5%, placing an immense strain on the daily lives of Nigerians.

This, coupled with the 150% increase in fuel prices, is pushing many families to the brink of economic desperation.

The public outcry over the latest fuel price hike is likely to intensify pressure on the government to address the root causes of the crisis and implement long-term solutions to stabilise the country’s energy sector and alleviate the suffering of its citizens.