Lagos, Nigeria — July 7, 2025
Nigerians are once again grappling with rising costs as the Nigerian National Petroleum Company Limited (NNPC) has officially confirmed a new fuel price of ₦1,200 per litre across the country.
The sudden hike, which took effect on Monday morning, has triggered panic buying, long queues at filling stations, and mixed reactions nationwide.
💬 NNPC’s Official Statement
In a press briefing held in Abuja, the Group Chief Executive Officer of NNPC, Mele Kyari, explained that the increase was due to “global oil market instability, foreign exchange volatility, and logistical constraints.”
“We understand the hardship this causes Nigerians. However, the realities of the global market and our inability to sustain subsidies any further have left us with no choice,” Kyari said.
🔍 Why the Sudden Increase?
According to NNPC, the following key factors contributed to the new price:
- 📈 Surge in international crude oil prices (now over $105 per barrel)
- 💱 Naira depreciation against the dollar (₦1,450/$ as of July 2025)
- 🚚 High cost of importation and distribution
- ❌ Complete removal of fuel subsidy support
🚗 Nigerians React to the Hike
Across major cities like Lagos, Abuja, Port Harcourt, and Kano, citizens expressed frustration and anxiety:
- @IamDeji: “How can we survive this? Transportation will double instantly.”
- @MissToyin: “From ₦180 to ₦1,200 in just over a year. This is madness!”
- @OkadaManJay: “We’re tired. Everything is going up except our salaries.”
📊 Economic Experts Warn of Ripple Effects
Analysts say the hike will lead to:
- Increased transportation fares
- Hike in food and commodity prices
- Strain on small businesses
- Widening inflation (currently at 39.8%)
🛠️ Government’s Next Steps
The Federal Government, through the Ministry of Finance, has hinted at the launch of a Fuel Relief Voucher Program for low-income earners and commercial transport operators.
Also, the Ministry of Labour is expected to meet with labour unions this week to discuss potential wage adjustments and interventions.
📌 What Should You Expect?
- Longer queues and potential fuel scarcity
- Surge in ride-hailing fares (Bolt, Uber, etc.)
- Black market fuel likely to rise above ₦1,400/litre
✅ Stay Informed, Stay Safe
NNPC advises Nigerians to buy only from registered filling stations and report hoarding or price gouging to regulatory bodies like PPPRA and FCCPC.
🗣️ What are your thoughts on the ₦1,200 fuel price? How will it affect your daily life? Drop your comment below and share this story to spread awareness.
