* Commuters lament hardship, cost of transportation
* Dangote blames increase on smuggling
* 20 ships of imported product expected at Lagos ports — NPA
By Teddy Nwanunobi
As petrol prices soar to almost N1,500 per litre in parts of Nigeria, many citizens have begun to feel the impact, with many commuters across the federation facing severe financial strain. The surging fuel prices have driven transportation costs to unprecedented levels.
The skyrocketing fares and daily struggles have left many workers and traders spending a massive share of their income on commuting. Civil servants and daily wage earners in major urban centres like Abuja and Lagos State have found themselves stranded or unable to afford daily commutes.
Due to budget strain, many low and middle-income workers have reported that transport costs now consume half or even all of their monthly salaries. Driven by desperation, some commuters now opt to walk long distances rather than pay commercial transport fares.
The economic ripple effect is that higher logistics and fuel costs have triggered a chain reaction, driving up the market prices of food and basic household goods.
Consequently, many Nigerians have taken to the streets in several cities to protest the latest increase in fuel prices and the unbearable cost of living.
Demonstrators in cities carried placards and chanted slogans demanding that the government reverse the hike and provide relief for citizens struggling, with rising food, transport, and electricity costs.
Many protesters said the fuel price increase has worsened hardship, with transport fares and market prices doubling in recent weeks.
Several Nigerians reacted to the development, with some calling for more protests against the rising cost of petrol.
“Petrol is now N1500 per litre. I expect more Nigerians to be on the streets of Nigeria in protest. The government needs to feel us,” Kenneth Terhemba said.
”You see. What is happening now is not fair. The cost of things is very high in the market now. My heart has been beating how my husband and I are going to manage with our children now,” Gladys Ekponta lamented.
“This government is not serious. The general elections are in January 2027. That’s barely 100 days away. A serious government seeking re-election would reduce the price of fuel to win some last-minute sympathy votes. But what do we see? The Renewed Hope has quietly increased the price of petrol by, at least, N100+, and nobody is talking. No wahala,” Catherine Iloh lamented.
“I don’t know why some of us are still waiting for. The noise (protest) should be increasing by now. Or is it until the petrol price enters N2,000 before we go voice out?” Igwebuike wondered.
“Petrol N1,400 per litre. May (President Bola) Tinubu never happen to Nigeria again,” Michael Adeyemi said.
“Petrol pump prices have soared from N1,400 to N1,500 per litre in some places. Did you know? If the pump price per litre gets to N2,000 under this administration, nothing will still happen. Nigerians will adjust, and life goes on. It’s a shame!” Idris lamented.
“The global average for the price of a litre of petrol is $1.56, and we pay $0.9 in Nigeria,” Joseph Madaki said.
While Nigerians are lamenting, the Publicity Director of the All Progressives Congress (APC), Ibrahim Bala, praised the President Bola Tinubu’s administration, saying that Tinubu has made petroleum products available and affordable in Nigeria.
During an interview on Channels TV on Tuesday, Bala wondered why Tinubu was being denied the right to enjoy his legitimate entitlement given to him by the constitution.
He stated that the President was courageous enough to remove the subsidy.
“Petrol is now available, and I can tell you it is affordable. Yes, petrol is more expensive, but compare the average price of petrol in Nigeria and the average price of petrol even in advanced economies, including UK and US, you find that it is cheaper in Nigeria,” he said.
He stressed that Nigerians no longer use generators, adding that they were now connected to the national grid which was not the case before now.
“It was a dream before Tinubu came,” he said.
Asked about stable electricity, he said there an improvement compared to when Tinubu was not in power.
Bala noted that Mr Tinubu never promised Nigerians 24 hours power supply
“It is better now. Now, he didn’t say that,” he said.
In his reaction, the President of Dangote Industries Limited, Aliko Dangote, attributed the high price of petrol in Nigeria partly to the continued smuggling of the commodity to neighbouring countries where it sells for significantly more.
Dangote, who said petrol prices in neighbouring countries were between 30 and 50 per cent higher than in Nigeria, argued that the price difference creates a strong financial incentive for traders to move petrol out of the country.
He stated this in an interview aired on Arise TV on Tuesday while speaking about petrol prices and the availability of the product amid the ongoing crisis in the Middle East.
Explaining why Nigerians may perceive petrol as expensive despite the country producing the commodity domestically, Dangote said the price could not be considered in isolation from the prices in neighbouring countries.
“You know, expensive is relative. In the sense that today, maybe, you know, a lot of them, there’s ignorance also. What they need to do is ask: what is the neighbour’s price?” he stated.
He said the continued movement of Nigerian petrol across the borders was partly driven by the significant difference between domestic prices and those obtainable in neighbouring countries.
“I don’t know if you know that there’s still a lot of smuggling of the same petrol we are producing to our neighbouring countries,” he said.
The price gap means that petrol bought in Nigeria can potentially be resold across the border at a substantial premium. Dangote said this creates an incentive for smugglers to divert petrol meant for the Nigerian market rather than sell it domestically.
“Because those neighbouring countries are about 30 to 50 per cent more expensive than Nigeria. So, it’s not actually like for like,” he said.
Dangote specifically cited Niger, where he said petrol was selling at a premium of between 20 and 25 per cent compared with Nigeria.
He used the example to illustrate why the border trade could be financially attractive, particularly when the price difference is large enough to provide an immediate return on the commodity.
“And people can now go and ask, okay, fine, what is the price of, even now at N1,350? Okay, the price in Niger is 20 to 25 per cent more than Nigeria,” he said.
He questioned what other legitimate business could provide such an immediate return.
“So, what business are you going to do that will make you have an instant 25 per cent return?” he asked.
Dangote further explained how petrol intended for domestic distribution could allegedly be diverted towards the border for sale to buyers in neighbouring countries.
“So, it means that, yes, you take the [petrol], you go and take it across the border. You pretend you are taking it to Sokoto, you go and just take it to Ilela, and you sell. Actually, they don’t have,” he explained.
The implication, according to Dangote, is that a product that should remain available to Nigerian consumers can be moved out of the country because of the higher prices obtainable across the border.
Beyond the issue of price, however, Dangote said the current crisis in the Middle East could pose a different challenge to the Nigerian downstream market.
He warned that the major concern could shift from how much petrol costs to whether sufficient volumes would be available to consumers.
“And the problem now, going forward, I must also warn that this crisis in the Middle East is not even about price; it’s about availability,” Dangote said.
The comment comes against the backdrop of concerns over how developments in the Middle East could affect global energy markets, including the availability and cost of petroleum products.
Asked whether Nigerians should be worried about petrol supplies, Dangote said the Dangote refinery was prepared to continue meeting domestic demand.
“We will deliver to Nigeria. Nigerians don’t need to worry. There will not be any shortage from our own part.
“There won’t be any shortage. There will not be any queues. We will make sure that we keep satisfying the market, despite all odds,” Dangote added.
The remarks came as investors flooded the Nigerian Exchange on Monday following the opening of the initial public offering of Dangote Petroleum Refinery and Petrochemicals.
The N2.15 trillion IPO was formally opened during the opening gong ceremony at the NGX trading floor in Marina, Lagos, with Dangote sounding the gong to mark the commencement of the offer.
The refinery became the first petroleum refinery to be offered to investors on the Nigerian stock market in the Exchange’s 66-year history.
The IPO comprises 4.1 billion ordinary shares offered at N525 per share, with a minimum subscription of 10 shares valued at N5,250.
The offer is open to retail, institutional and eligible African investors and is scheduled to close on October 13, 2026.
Meanwhile, the Nigerian Ports Authority (NPA) has stated that 30 ships carrying petroleum products, food items, and other cargo are expected to arrive at the Apapa, Lekki Deep Sea and Tin Can Island ports in Lagos State between September 15 and September 28.
The NPA disclosed this in its Daily Shipping Position on Tuesday. It said 10 of the expected vessels would arrive with containers carrying various goods, while five would bring aviation fuel.
The remaining 15 vessels are expected to carry crude oil, diesel, general cargo, bulk gypsum, fresh fish and bulk wheat.
According to the NPA, 12 ships and tanker vessels had arrived at the three ports, and were waiting to berth.
The vessels are expected to discharge bulk urea, petrol, diesel, crude oil, and bulk salt.
The authority also said 21 ships were currently discharging various cargoes, including containers, fresh fish, general cargo, bulk pallets, bulk urea, bulk sugar, bulk salt, aviation fuel and petrol at the three ports.