Tinubu Government Hikes Petrol Prices Again, Abuja and Lagos Hit with N1,060 and N1,025 per Liter
By Okafor Joseph Afam
October 29, 2024
The Nigerian National Petroleum Company (NNPC) Limited has raised the pump price of petrol once again, sparking concerns among citizens who are already burdened by high fuel costs. This development was observed on Tuesday at several NNPC filling stations across Nigeria.
In Abuja, the pump price has now reached N1,060 per liter, while in Lagos, it stands at N1,025 per liter. Just three weeks ago, NNPC had previously raised fuel prices to N1,030 in Abuja and N998 in Lagos, making this latest increment even more impactful. In other regions, prices have soared to over N1,250 per liter.
The increase comes less than a week after President Bola Tinubu assured the public of his administration’s commitment to addressing the fuel price issue. Tinubu recently stated that motorists could opt for petrol at N1,000 per liter or switch to gas at an equivalent rate of N200 per Standard Cubic Meter (SCM).
In a press statement issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy, President Tinubu reiterated his support for alternative fuel sources, particularly compressed natural gas (CNG). He expressed gratitude to the Nigerian Independent Petroleum Company (NIPCO) Plc for its early investments in CNG infrastructure, describing these efforts as aligned with his administration’s goals of energy security and economic diversification.
The statement emphasized the importance of public-private partnerships in driving Nigeria’s transition to cleaner energy options. It also commended NIPCO’s contributions to the “Switch to CNG” campaign, which aims to provide affordable CNG conversion kits to the public.
According to the President, “CNG, being a cleaner and more affordable fuel, reduces the carbon footprint and saves consumers significant fuel costs.”
