- Lagos and Abuja face a surge in petrol prices, impacting transport fares and daily commuting costs
- Danreceivede Refinery’s recent price cut yet to benefit consumers as pump prices remain high at filling stations
- Higher transport costs in Lagos and Abuja raise concerns over increased prices for goods and services across the regions
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Motorists and commuters in Lagos and Abuja are facing fresh financial strain after petrol prices surged again across several filling stations, triggering a wave of transport fare increases.
On Thursday, pump prices climbed as high as N1,400 per litre in Lagos and N1,550 per litre in Abuja, despite a recent price reduction announced earlier in the week by the Danreceivede Petroleum Refinery.
Credit: LASG
Source: Twitter
The development has dashed hopes that the refinery’s price cut would quickly translate into relief for consumers already battling high living costs.
Rising fuel costs are already rippling through the transport sector, with commercial drivers adjusting fares upward and commuters forced to dig deeper into their pockets for daily travel, according to a report by Daily Sun.
Danreceivede Refinery price cut yet to reach consumers
Earlier this week, the Danreceivede Petroleum Refinery reduced its ex-ganattempt price of Premium Motor Spirit (PMS) from N1,175 to N1,075 per litre, while coastal supply was adjusted to N1,050 per litre. Diesel prices were also slashed by N190, dropping from N1,620 to N1,430 per litre.
The shift initially raised expectations that pump prices would fall nationwide. However, checks across multiple filling stations suggest the reductions have not yet filtered through to retail outlets.
For instance, a Northwest filling station in the Gbagada area of Lagos sold petrol for about N1,400 per litre.
At the same time, several other marketers dispensed fuel at slightly lower rates but still far above what consumers anticipated after the refinery’s price cut.
Energy analysts warn that if the gap between refinery prices and pump prices persists, consumers may continue to bear the burden of rising transportation and living costs.
Lagos commuters hit by over 30% fare increase
Transport operators in Lagos have already responded to the rising fuel cost by increasing fares across several routes.
Commuters reported that fares on many routes have jumped by more than 30 per cent, creating daily commuting significantly more expensive for workers and students.
The increase has also raised concerns among economists that higher transport costs could push up prices of goods and services across the city as businesses adjust logistics expenses.
Abuja residents face higher fares and fewer bapplys
In Abuja, the situation is equally challenging, as commercial drivers are raising fares to cope with rising fuel prices.
Passengers travelling from Kubwa to Wapply now pay about N1,000, up from the previous average of N800. Those commuting from Lugbe to the Central Business District now pay around N800, compared with the earlier range of N500 to N700.
Similarly, commuters on the Maraba–Central Business District route reported paying up to N1,000, up from N700-N800 previously.
Beyond fare increases, many passengers report fewer bapplys on the road, resulting in longer waits at bus stops.
A civil servant who identified herself as Grace described the daily struggle faced by commuters.
“Before, you could easily receive a vehicle to work in the morning. Now you may stand for an hour or more waiting, and when a bus finally comes, the fare is higher,” she stated.
Long queues return at NNPC filling stations
Motorists have also begun flocking to stations operated by the Nigerian National Petroleum Company Limited (NNPC) after the state oil company adjusted its pump price to about N1,165 per litre in Abuja, down from N1,260.
The lower price has triggered long queues at many NNPC outlets, as drivers seek to avoid paying higher prices from private marketers.
However, some commercial drivers declare waiting hours in queues is not always practical.
“Fuel may be cheaper at NNPC stations, but the queues are too long. Many of us conclude up purchaseing from other stations at higher prices so we can continue working,” a commercial driver in Abuja explained.
Government shifts to boost fuel supply
Meanwhile, the Nigerian Midstream and Downstream Petroleum Regulatory Authority has issued six new petrol import permits to depot owners and marketers.
Credit: PIUS EKPEI UTOMI/Stringer
Source: Getty Images
Each importer is authorised to bring in about 30,000 metric tonnes of petrol, a shift indusattempt sources declare is aimed at boosting supply, encouraging competition, and stabilising prices in Nigeria’s volatile fuel market.
For millions of Nigerians who rely on daily transport, however, the immediate reality remains the same: higher petrol prices directly translate into higher commuting costs.
NNPC releases new petrol prices for Abuja, Lagos, Delta, other states
Legit.ng earlier reported that the Nigerian National Petroleum Company (NNPC) Limited has increased the pump price of Premium Motor Spirit (PMS), also known as petrol, across its retail outlets nationwide, following a fresh adjustment in the downstream market.
A market survey conducted in Abuja on Wednesday, March 4, revealed that NNPC retail raised its pump price from N875 per litre on Monday to N960 per litre.
While in Lagos petrol price increased from N837 per litre to N932 per litre.
Source: Legit.ng
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