As of November 2024, Nigeria is experiencing significant challenges related to rising petrol prices and fuel scarcity, which continue to strain the economy and daily life for many citizens. The recent price hikes by the Nigerian National Petroleum Corporation (NNPC) Limited have sparked widespread protests and unrest, particularly in urban areas such as Abuja. Many Nigerians are protesting not only the price increases but also the ongoing fuel shortages that are exacerbating inflation and pushing more people into poverty.
The protests have been led by organizations such as the Citizens and Economic Freedom Rights Activists in Nigeria (CEFRAN), who are demanding urgent reforms in the oil sector. Their focus is on the removal of the fuel subsidy, which they argue has disproportionately benefited the wealthy few while leaving ordinary Nigerians to bear the brunt of high costs.
In parallel, Dangote Refinery has sought to address some of these concerns by revealing the prices at which it sells fuel. The refinery, which is set to play a significant role in Nigeria’s fuel supply, is selling petrol at ₦990 per liter for truck deliveries, and at ₦960 per liter for shipments. This has sparked a debate, with some marketers claiming that imported fuel is cheaper than locally refined petrol. However, Dangote’s management has strongly refuted these claims, asserting that the market will benefit from its locally produced fuel.
Meanwhile, the ongoing fuel scarcity has prompted the Nigerian Labour Congress (NLC) to accuse fuel marketers of inflating prices beyond reasonable limits. In response, the NLC is planning a strike starting December 1, 2024, in regions where the new minimum wage has not been fully implemented, further intensifying the pressure on the government to take action.
