The Nigerian National Petroleum Company Limited (NNPCL), under President Bola Tinubu’s administration, has increased petrol prices again despite the economic struggles.
With this hike, Lagos residents will now pay N1,025 per liter, while in Abuja, the price has climbed to N1,060 per liter.
In October, petrol prices at NNPCL stations were N1,030 in Abuja and N998 in Lagos, while other stations sold fuel for between N1,150 and N1,200 per liter.
On Tuesday, NNPCL stations in Lagos and Abuja displayed the updated prices, attributing the increase to current economic pressures, which are expected to add to the financial strain many Nigerians already face with the rising cost of living.
Since President Tinubu took office on May 29, 2023, and removed the fuel subsidy, petrol prices have surged from N145 to over N1,000 per liter.
This sharp rise has driven up living costs and led some Nigerians to refer to him as “T-Pain” (short for Tinubu-pain), highlighting their financial frustration under his leadership.
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