Kate Roland

Across Nigeria, motorists, transport operators, and small business owners are adjusting to a steep increase in petrol prices following the Dangote Petroleum Refinery’s hike of the gantry price of Premium Motor Spirit (PMS) to N995 per litre. Retail stations nationwide have since increased pump prices, with several states now recording prices above N1,000 per litre.

Market checks indicate that petrol now sells between N1,000 and N1,190 per litre depending on location and retail outlet. The rise has already impacted transport fares and the prices of goods and services, placing further strain on households already grappling with inflation.

While the price adjustment has not triggered panic buying in most states, motorists and small business owners say the new price regime is stretching household incomes further.

Global Oil Crisis Drives Local Prices

The surge in petrol prices in Nigeria is closely linked to escalating geopolitical tensions in the Middle East involving Iran, the United States, and Israel. The conflict, which intensified after joint U.S.-Israel strikes on Iranian targets in late February 2026, has disrupted global oil supply chains and driven crude oil prices upward.

A key development has been the disruption of shipping through the Strait of Hormuz, a narrow maritime corridor between Iran and the Arabian Peninsula that handles nearly 20 percent of global oil and natural gas shipments. Iran issued warnings to vessels connected to the U.S. and Israel after attacks on ships in the area, causing tanker traffic to drop dramatically. Many vessels remained anchored outside the strait to avoid security risks, leaving millions of barrels of crude and refined products stranded in the Gulf.

The disruption has pushed Brent crude prices above $90 per barrel, with projections suggesting prices could rise further if hostilities persist. Since global oil prices serve as the primary benchmark for domestic petroleum products, the shock has quickly filtered into the Nigerian market.

Abuja Commuters Adjust to Rising Fares

In the Federal Capital Territory, filling stations have adjusted pump prices to above N1,000 per litre. A survey by Sunday PUNCH revealed that petrol now sells between N1,052 and N1,105 per litre.

  • MRS Oil Nigeria, a retail partner of Dangote Refinery, sold petrol at N1,060 per litre.
  • Nipco Filling Station, along Airport Road, dispensed petrol at N1,105 per litre—the highest recorded during the survey.
  • Other outlets, including Matrix Energy, Bovas, Shafa, Shema, and A.A. Rano, adjusted pump prices upward to between N1,052 and N1,092 per litre.

Despite steady supply and the absence of queues, transport fares are rising. Daniel Ishyaku, a commercial driver along the Federal Secretariat–Asokoro route, said:

“Fuel is now more than N1,000 per litre. I bought petrol at N1,060 today. If I don’t increase the fare, I will run at a loss.”

Commuters expressed frustration over the development. One passenger lamented:

“When fuel goes up like this, transport fares follow immediately. But our salaries have not increased.”

Lagos Fuel Prices Hit N1,190

In Lagos, Nigeria’s commercial hub, petrol prices ranged from N1,005 to N1,190 per litre in early March.

  • At a Mobil station along Agege Motor Road in Mushin, petrol was sold at N1,018 per litre.
  • A dispatch rider, Augustine Akor, said he had to raise delivery charges:

“I bought fuel at N1,018 in Iju-Ishaga this morning. I delivered a package to Ogba and had to charge N4,800 instead of N4,000 because of the fuel increase.”

  • At the NNPC station on Yaya Abatan Road, petrol sold for N1,005 per litre, though the price was not displayed on the station’s signboard.
  • An AP Filling Station nearby sold petrol at N1,039 per litre, with customers buying 25-litre jerrycans.

Small business owners and transport operators reported additional strain. Chukwudi Anioke, a boutique owner, said:

“I pay for Band A electricity but power supply is not stable, so I rely heavily on my generator. Now that petrol has increased again, we will have no option but to increase prices.”

Tricycle operator Kamoru Saheed confirmed fare hikes:

“We have increased fares from N100 to N200 because of the fuel price. Everything keeps increasing.”

Kaduna and Taraba: Fuel Steady, Prices High

  • Kaduna State: Petrol sells between N1,060 and N1,070 across major stations such as AA Rano, Rainoil, NNPC Mega Station, and Future View. Despite the rise, supply remains steady. Motorist Ibrahim said:

“There is no scarcity of fuel, so there should be no panic buying. Fuel is available everywhere.”

  • Taraba State: Prices range from N1,000 to N1,060 in Jalingo and Wukari, with stable supply preventing hoarding. Commercial driver Ibrahim Usman noted that fuel availability has helped prevent panic buying.

Edo and Rivers Adjust to New Prices

  • Benin City, Edo State: Petrol sold between N1,050 and N1,072 per litre. Hifly filling station on Sakponba Road sold petrol at N1,072 without queues. Raptors Filling Station on Sapele Road charged N1,050. The NNPC station previously sold fuel at N995 but was closed during the survey.

  • Port Harcourt, Rivers State: Prices ranged from N1,050 to N1,075. Motorist Andy lamented:

“I bought petrol for N1,030 yesterday. Today it has jumped to N1,050.”

Felix Naamime added:

“Petrol is expensive in a country with four refineries. Government must do something to help citizens.”

Northern States See Steep Increases

  • Gombe: Petrol sells between N1,080 and N1,250. Commercial motorcyclist Ibrahim Musa said:

“Before now, I could buy fuel with less money and still make a profit. Now, most of what we make goes back into buying petrol.”

Resident Aisha Mohammed noted:

“The price of everything is increasing because transport fares are going up. When fuel is this expensive, it affects food prices and other essentials. It is becoming difficult for families to cope.”

  • Jigawa: Some parts, including Dutse, witnessed panic buying. At Matric Filling Station along FUD Road, petrol sold for N1,050, while NNPC Mega Station charged N1,020. Commercial driver Abubakar Mohammed described the situation as troubling.

  • Kano: Petrol climbed to around N1,150. Tricycle rider Abdulkarim Abdullahi said:

“We now spend more on fuel for the same amount of work.”

  • Sokoto: Prices jumped from N930 to between N1,050 and N1,100. Resident Abdulazeez Bello said:

“The price of fuel is now on the other side. How does the government expect us to survive?”

  • Bauchi: Petrol sold between N1,100 and N1,106. Motorcycle rider Umar Musa noted that commodity prices would also rise.

  • Yobe: In Damaturu and Potiskum, petrol reached as high as N990. Commercial tricycle operator Musa Ibrahim said:

“If petrol is close to N1,000 per litre, most of the money we make will go back to fuel.”

Economic Ripple Effects

Analysts warn that rising petrol prices trigger a chain reaction across the economy. Increased transportation and energy costs usually translate into higher production expenses, elevated food prices, and rising market costs for essential goods. With petrol now exceeding N1,000 per litre in several states, many Nigerians fear that the full economic impact may only be beginning.

The current situation highlights the country’s sensitivity to global oil market fluctuations and underscores the need for policy interventions to support households and small businesses.