Fuel price hike sparks 50% surge in transport fares nationwide

..As Nigerians demand relief

By Temitope Adebayo

The recent increase in petrol prices has caused transportation fares to rise by over 50 per cent in major Nigerian cities, investigations by The Daily Times has revealed.

The Nigerian National Petroleum Company Limited (NNPCL) Retail Management implemented the price hikes, raising petrol costs from N568-N617 per litre to a range of N855-N897, depending on the location. Meanwhile, independent marketers have pushed their prices even higher, with rates between N930 and N1, 200 per litre.

This significant price jump has deeply affected Nigerians, with many resorting to long-distance walking or missing work due to the steep rise in transport costs. In response, there have been growing calls for the government to reverse the petrol price increase.

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The Manufacturers Association of Nigeria (MAN) also expressed concern, warning that the fuel price hike could exacerbate inflation and strain household budgets.

Additionally, the National Association of Nigerian Students (NANS) announced plans to protest and shut down major cities starting from the 15th of this month to push for a reduction in fuel prices.

Commuters in Lagos, Abuja, and other states voiced their frustrations yesterday, stating that the soaring transport fares have worsened their living conditions.

Mr. Arinze Chike, a banker living in Ikeja, Lagos, shared that his daily fare from his residence to Ojodu Berger had doubled, rising from N500 to N1, 000. Similarly, Mrs. Oluwatoyin Dasaolu from Abule Egba, Lagos, reported an increase in her fare to Ifo, from N700 to N1, 000.

In the north, Ismail Oseni, a traveler from Abuja to Kano, revealed that his fare had jumped from N8, 000 to N11, 000. A bus driver, who wished to remain anonymous, mentioned that fares from Agege to Abeokuta had surged to N3, 000, more than double the previous rates.

Across Lagos, tricycle operators also increased their fares, leading many residents to choose trekking as an alternative.

In Kano, Yakubu Isa reported that his regular fare from Kwana Hudu to Kano Guest Inn had doubled from N200 to N400, forcing him to walk. Similarly, Maikudi Haliru, a teacher, said he now walks to school to avoid paying the higher fares.

Residents in Port Harcourt, Rivers State, and Ondo State echoed similar complaints, with many opting to trek to their workplaces due to the increased transport fares.

The MAN’s Director-General, Segun Ajayi-Kadir, highlighted the broader economic impacts of the fuel price hike in a statement.

“As transportation costs rise, so will the prices of goods and services. This will put pressure on consumers’ disposable income, reducing their purchasing power. Small and Medium Enterprises (SMEs), which already operate on slim margins, may be especially hard hit,” Ajayi-Kadir warned.

He added that the petrol price hike is likely to drive inflation, putting even more strain on household finances.