- From 1993 to 2024, Nigeria has seen several major fuel price hikes
- The most recent increase under Tinubu’s regime has resulted in an uproar as Nigerians expressed their dissatisfaction
- TheRadar reviewed Nigeria's major fuel price hikes from the era of Chief Ernest Shonekan to the current administration
In a staggering hike, fuel price in Nigeria has surged to N897 per litre, reflecting a significant increase since President Bola Tinubu’s administration began in May 2023.
Major fuel hikes in Nigeria from 1993 - 2024
TheRadar compiled the major fuel hikes in Nigeria right from 1993 during Shonekan’s regime to the latest administration.
1993 - Chief Ernest Shonekan from 70 kobo to ₦5 (614.29%)
1994 - Sani Abacha from ₦3.25 to ₦15 (361.54%)
1998 - Abdulsalami Abubakar from ₦11 to ₦25 (127.27%)
2012 - Goodluck Jonathan from ₦65 to ₦141 (116.92%)
2020 - Muhammadu Buhari from ₦87 to ₦195 (124%)
2023 - Bola Tinubu from ₦195 to ₦557 (282.74%)
2023 - Bola Tinubu from ₦557 to ₦617 (110.77%)
2024 - Bola Tinubu from ₦617 to ₦897 (145.38%)
This sudden increase is felt across the country, with a growing number of Nigerians expressing their dissatisfaction.
Nigerians react to fuel hike
“This is the most wicked government ever. Nigerians keep tolerating nonsense,” IfyElla5 stated.
“Transport now is times 3, God have mercy, And there's no money,” Sasha lamented.
“This is suicidal! The hike in pump price will elevate prices of goods and services!” Ayeni Mayowa O added.
“Imagine NNPC selling at this price. How much do you think marketers will sell theirs?? 980 or above. Don’t expect less Inflation about to skyrocket again 😑🤦🏻♂️ Tinubu the OTP!!! In shaa Allah,” Hassan stated.
“The same people who protested against Jonathan when fuel was 140# and they are now selling fuel for N855, and Nigerians are living their lives as if everything is normal, this must be a spell, it's well,” Favour commented.
“At official NNPC Rate, full tank for my car is now 63k, it was formally 43K that’s a massive 20,000 increase overnight. This government is slowly dragging us all into poverty. If care is not taken the common man wouldn’t be able to afford basic needs again,’ Sarkin Mota added.
“Life is hard with BAT. Right from day 1. I remember when he announced removal of subsidy upon swearing in, I was lucky 2 have filled my car that very morning but this time my car is empty. I’m already scratching my head cos times are hard like really hard. How we take reach hia,” Kunlefatoye recalled.
Dangote refinery starts petrol production, raises hopes
Meanwhile, TheRadar earlier reported that Dangote Refinery Plc had started petrol production, marking a significant milestone for Africa's largest refinery in Nigeria.
The Nigerian National Petroleum Corporation (NNPC), which has had difficulties satisfying domestic fuel requirements will be the sole buyer of the gasoline produced by the Dangote Refinery, according to the report.