By: Chioma Madonna Ndukwu
Nigeria Workers’ Day Shock: Petrol Price Soars to N1,440 Per Litre Nationwide
Nigerians marked this year’s Workers’ Day under mounting economic pressure as the pump price of petrol surged across the country, with some filling stations now selling as high as N1,440 per litre.
A market survey conducted on Thursday revealed that leading fuel marketers, including the Nigerian National Petroleum Company Limited (NNPCL), MRS, BOVAS, Ardova Plc, and Mobil, have adjusted their pump prices upward, with rates now ranging between N1,364 and N1,370 per litre.
At other retail outlets such as AA Rano, Emedab, Empire Energy, and Ranoil, motorists are paying even more, with prices climbing to between N1,370 and N1,440 per litre.
The latest increase represents a significant jump from the approximately N900 per litre recorded in February 2026, highlighting the rapid escalation in fuel costs over the past few months.
Industry observers link the development to Wednesday’s decision by Dangote Refinery and several depot operators to raise their gantry and ex-depot prices to N1,275 and N1,320 per litre, respectively. The adjustment followed a sharp rally in global crude oil prices.
By Friday morning, international oil benchmarks had climbed further, with Brent crude trading at $111 per barrel and West Texas Intermediate (WTI) reaching $105 per barrel.
The spike has been largely attributed to heightened geopolitical tensions involving Iran, the United States, and Israel in the Middle East.
The recent withdrawal of the United Arab Emirates from the Organization of Petroleum Exporting Countries (OPEC) has also contributed to growing uncertainty in the global oil market.
Reacting to the development, Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), acknowledged that international crude oil volatility is exerting pressure on local fuel prices.
While he noted that Dangote Refinery has provided some level of stability to the domestic market, he stressed that Nigeria remains vulnerable to fluctuations in the global oil industry.
The fresh increase has renewed concerns among citizens and labour groups, especially as it comes on a day set aside to celebrate Nigerian workers.
With the national minimum wage standing at N70,000, many Nigerians now face the harsh reality of rising transportation costs and an ever-increasing cost of living.
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