In a move amid ongoing economic challenges, the administration of President Bola Tinubu has announced an increase in the pump price of petrol, as confirmed by the Nigerian National Petroleum Company Limited (NNPCL).
Effective immediately, residents in Lagos will now pay N1,025 per litre, while those in Abuja will face prices of N1,060 per litre.
This adjustment marks a continuation of the upward trend in fuel prices, which has escalated dramatically since the end of fuel subsidies was announced in May 2023.
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Just last month, petrol prices were set at N1,030 in Abuja and N998 in Lagos, with many independent stations charging even higher rates, between N1,150 and N1,200 per litre.
According to reports, the revised prices were displayed at NNPCL stations in both Lagos and Abuja on Tuesday, a move attributed to ongoing economic pressures that are further burdening citizens already grappling with a high cost of living.
Many Nigerians have expressed their discontent, coining the term “T-Pain” (Tinubu-pain) to reflect the financial hardships they are experiencing under the current administration.
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