Nigeria’s presidency under Bola Ahmed Tinubu has yet to issue an official response as the pump price of Premium Motor Spirit (petrol) reportedly climbed to about ₦1,400 per litre in parts of the country.
Reports indicate that the sharp increase in fuel prices has intensified economic pressure on Nigerians already grappling with rising transport and food costs. The price surge follows ongoing volatility in the downstream petroleum market and supply adjustments linked to refinery pricing and distribution costs.
Despite widespread public concern and criticism over the spike, the presidency has not publicly addressed the development, fueling debates about government intervention in the deregulated petroleum sector.
Industry observers note that Nigeria’s fuel market has been largely deregulated since the removal of petrol subsidy in 2023, a policy announced by Tinubu during his inauguration to reduce government spending on fuel subsidies.
The continued rise in pump prices has triggered complaints from motorists, transport operators, and businesses who say the development could further push up inflation and living costs nationwide.
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