Price Hikes: Consumers lament N1,250 Per Litre, raising transport fares in Lagos, Abuja, Oyo, others

*Cross-sections of Nigerian energy consumers fear the latest fuel hikes between N1,020 and N1,250 have resulted in increased transport fares by commercial transporters, which my negatively affect prices of foodstuffs, and other household commodities across the West African country

Gbenga Kayode | ConsumerConnect

Energy consumers have expressed reservations, surprise, and shock over the sudden increase in the pump price of Premium Motor Spirit (PMS), otherwise known as petrol, selling between N925 and N1,250 across several filling stations in Ibadan, Oyo State capital, Lagos, Abuja, Federal Capital Territory (FCT), and some other parts of Nigeria as of Monday, March 9, 2026.

The latest sudden PMS price increment apparently, came as a surprise to several motorists, residents, and consumers, especially in Ibadan, Lagos, Ogun and Abuja, FCT.

NMDPRA explains key factors fuelling PMS price spikes across Nigeria

Some reportedly said they never imagined the West African country, again, would return to such a price hike regime so soon.

Hitherto, high-scale competition between the Nigerian National Petroleum Company Limited (NNPCL), Dangote Petroleum Refinery, and other marginal oil refinery as well as fuel marketers had made fuel available and affordable for several consumers from late 2025 to early 2026.

ConsumerConnect investigations into PMS pricing at some filling stations around Ikeja, Iju-Ishaga and Ajuwon, Monday, March 9, in Lagos, also revealed that transporters and other energy consumers said they purchased petrol at N1,250 per litre.

Lamenting the current hardship in getting fuel cum the general uncertain situation in the Nigerian as well as global oil and gas sector, Mr. Lukmon, a commercial motorcyclist in the Iju-Ishaga area of the state, described the experience of searching for fuel for hours since he left home for work Monday morning as “wickedness” on the part of industry stakeholders.

Likewise, an Information Technology (IT) training expert and business centre operator, simply known as Udisco, in Lagos, whose business premises suddenly, experienced outage in the course of operations afternoon Monday, also said it was unfortunate that PMS, which sold for between N825 and N900 in the last few days is now being sold for well over N1,000.

NMDPRA speaks on price hike causative factors

In regard to the latest development with the resurgent price hikes, however, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said fluctuations in fuel pump prices are a direct result of market dynamics under the deregulated downstream petroleum sector in the country.

George Ene-Ita, Spokesperson of NMDPRA, reportedly noted this in an interview in Abuja, FCT, while reacting to the recent increase in fuel pump prices.

Market analysts also have attributed the development to the ongoing United States-Israel war against Iran, and the Arabian country’s retaliatory attacks across the Middle East.

Oil marketers sell PMS between N925 and N1,020 per litre in Oyo

Despite the NMDPRA’s attempt at explaining away the rational for the recent PMS price hikes, several consumers have criticised the absence of prior notice, describing the adjustment as unexpected.

The development, for instance, began to unfold Friday afternoon, in Ibadan, when motorists started noticing changes in prices and queues began forming at filling stations by evening, The Nation report said.

Report indicated that earlier Friday, petrol was still selling between N925 and N1,020 per litre, with several major marketers shutting their stations in the ancient city.

It was gathered that in the early hours of Friday, fuel marketers sold product for between N920 and N925 per litre in Ibadan, and neighbouring communities in the state.

However, by evening last Friday, filling stations had jacked up pump prices hovering from N925 to N1,020 per litre, according to reports.

By Saturday afternoon, the few stations selling the product had increased the price further to between N1,020 and N1,100 per litre, while several others remained shut, citing lack of supply.

Incidentally, the situation caused long queues at stations dispensin g fuel, while Ibadan residents were again, seen moving around with five- and ten-litre jerrycans in search of the product in the city.

Some stations that were closed Friday reopened morning Saturday, March 7 but under the new price regime, report said.

A petrol attendant at a filling station around Iwo Road, who identified himself as Tunji Alawode, said the station shut down after receiving information about the price adjustment late Friday.

Alawode reportedly explained that the retail outlet decided to suspend sales temporarily while awaiting directives from its headquarters.

He also said: “We got the information through our Station Manager that the pump price has been increased to a yet-to-be-fixed price.

“We decided to shutdown the operation till we get a further directive from him.”

The fuel pump attendant also related: “We learnt that the increase in pump price might not be unconnected with the invasion of Iran by the combined team of the United States and Israel authorities.

“We are not party to the increase. It is going to affect us one way or the other.”

“The transport fares from one end of the town to the other has been upwardly review by the commercial bus and taxi drivers.

“The development will soon affect the prices of foodstuffs and other household commodities.

How much do NNPC mega stations sell PMS?

During a visit to NNPC station along Ibadan-Ife Expressway, Adegbayi area of Ibadan, it was also discovered that the petroleum station sold PMS at N1, 080 Friday, report noted.

Yet, in another visit to Alleluyah Oil in Soka, PMS was also sold at N1,080 while no fuel queue was observed at the petroleum station.

Besides, marketers sold PMS at N1,080 at Energy switch located in the Soka area of Ibadan.

In an interview with a motorist, Dayo Adebayo, urged the Federal Government to find solutions to the increases in PMS prices.

According to him some of the stations were under lock and key, but which some are opened Saturday at the rate of N1,100.

The consumer also stated: “We plead to our government to help find solutions the increase in the price of petroleum, as at yesterday many of the petroleum stations are under lock while some opened today at the price of N1,080.”

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