Queues at filling stations have returned in major cities like Lagos, Abuja, and Port Harcourt as a result of recent rises in fuel prices throughout Nigeria.
Many stations have closed as dealers keep an eye on developments and modify pricing as necessary.
Gasoline prices have increased due to the Nigerian National Petroleum Company (NNPC); in Lagos, prices at NNPC outlets have increased from 858 to 998 naira per litre, and similar increases have been noted in Abuja.
This price increase came after the government eliminated fuel subsidies, which were intended to ease financial strains but instead increased consumer expenditures.
The higher pump costs, which now top N1,000 per litre, have angered the Nigeria Labour Congress, which has demanded an immediate reversal.
The Nigerian government is encouraging the use of Compressed Natural Gas (CNG) as an alternative fuel in response to rising petrol prices.
Launched in August 2023, the Presidential CNG Initiative seeks to reduce transportation expenses by up to 40% by converting 150,000 vehicles by the end of the year and one million by 2027. Problems including inadequate infrastructure and public mistrust of safety, however, persist.
Rising fuel costs and the phase-out of subsidies have sparked protests and popular unhappiness, underscoring the difficulties governments have enacting economic reforms without making the cost-of-living situation worse.
