JUST IN: Tinubu’s Government Raises Fuel Prices Again

The administration of President Bola Tinubu has announced a significant increase in fuel prices. As of Tuesday, the Nigerian National Petroleum Company Limited (NNPCL) has set new pump prices at N1,025 per litre in Lagos and N1,060 in Abuja.

This latest hike comes amid ongoing economic challenges, with petrol prices previously recorded at N1,030 in Abuja and N998 in Lagos as of early October. Other petrol stations had been selling fuel for between N1,150 and N1,200 per litre.

The decision to raise prices is seen as part of the government’s response to persistent economic pressures, which have been exacerbating the cost of living for Nigerians. Since the end of fuel subsidies was announced when Tinubu took office on May 29, 2023, fuel prices have skyrocketed from N145 to over N1,000 per litre, leading to widespread public discontent.