Fuel Price Surge in Nigeria Sparks Economic Strain Amid Government Efforts to Secure Stable Supply

As Nigerians face steeply rising fuel costs, recent developments suggest efforts to stabilize fuel supply, but the situation continues to strain households and businesses.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has struck a significant deal with Dangote Refinery for a direct supply of Premium Motor Spirit (PMS), aimed at ensuring a consistent and affordable distribution.

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IPMAN’s National President, Abubakar Garima, announced, “Dangote Refinery has agreed to supply IPMAN with PMS, AGO, and DPK directly for distribution to our depots and retail outlets.”

However, the relief from this agreement remains uncertain as fuel prices have increased sharply over recent months, with petrol prices rising from ₦617 per liter in August to as high as ₦1,060 in November.

The Human Rights Writers Association of Nigeria (HURIWA) has condemned the price hikes, attributing them to policies that allegedly favor the financial interests of those within the administration’s inner circle.

HURIWA’s National Coordinator, Emmanuel Onwubiko, argued, “The truth and nothing but the truth is that the policy of incessantly hiking the pump price of fuel… was never meant to benefit the commoners of Nigeria.”

With essentials like food also becoming costlier, HURIWA highlighted the resulting hardship, stating that “the hikes in the costs of fuel have only brought instability in the prices of essential food items,” impacting the poorest communities and leading to malnutrition, hunger, and rising poverty.

As the public calls on the government to take action, the demand for relief and effective intervention has become urgent.

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