As fuel prices soar past ₦1,000 per liter across Nigeria, many filling stations report a dramatic decline in customer turnout, forcing petrol marketers to cut staff and reduce shifts. The high costs have strained operators financially, with the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, revealing that a 45,000-liter supply now costs ₦49 million—up from less than ₦8.5 million earlier this year.
The economic impact extends beyond fuel, with Nigerians facing rising food costs. Local rice prices have surged by 123%, with a 50kg bag now selling at ₦105,000, far outpacing the new minimum wage of ₦70,000. These rising costs are largely attributed to the removal of fuel subsidies and the naira’s devaluation, creating economic hardship nationwide.
