The Price of Petrol Is Rising and Nigerians Simply Cannot Cope

Do you remember Falz’s “This Is Nigeria” song? The song where he asks us to look around and see how we are living? On Thursday, September 17, 2026, that song was playing on repeat in Oluwatobi’s head as he returned from a filling station, probably wondering how a country could make buying petrol feel like a personal financial crisis.

Oluwatobi works from home, which requires a lot of electricity. So when the power supply becomes unreliable, he turns to a generator. The arrangement is already expensive, but it is one of the realities of trying to work in a country where electricity can disappear without warning.

The 28-year-old had travelled to stay with a friend for a few weeks in Ibadan, Oyo State. The electricity situation there was unstable, so the generator became more important.

That Thursday, he went to a filling station with his friend, expecting to purchase the usual quantity of petrol. To his surprise, the money he had planned to spend could no longer buy the same quantity of fuel. What would previously have covered roughly ten litres now bought about half that quantity. The generator still needed fuel, but the money was no longer stretching as far.

For people who depend on generators to work, trade or run their homes, fuel hikes quickly reflect in their daily expenses. The cost of keeping the lights on begins to compete with food, transport, data, rent and other bills.

Photo: Punch Newspapers

What’s going on?

Petrol prices have risen across several parts of Nigeria, with reports placing pump prices between ₦1,400 and ₦1,450 per litre in Lagos and Abuja. Some locations have recorded even higher prices. There were reports of ₦1,500 per litre in Kano, Sokoto, and Borno, while Adamawa prices were around ₦1,600 per litre.

The increase has been linked partly to higher international crude oil prices and adjustments in the price of petrol supplied by the Dangote Petroleum Refinery. Premium Times reported that Dangote increased its petrol gantry price from ₦1,265 to ₦1,350 per litre, as global crude prices rose amid tensions around the Middle East and the Strait of Hormuz.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), however, says it does not determine the prices consumers see at filling stations.

In a statement issued on September 19, the NMDPRA cited Section 205(1) of the Petroleum Industry Act, which provides for the pricing of petroleum products under unrestricted free-market conditions. It said it does not fix pump prices or issue administrative pricing templates. Government intervention, according to the authority, is permitted only in exceptional circumstances involving a formally declared market failure.

That explanation may clarify the NMDPRA’s legal position, but it does little to change what consumers experience when they arrive at a filling station with the same amount of money and leave with less petrol.

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The regulator says it can still act

Although the NMDPRA says it cannot set pump prices, it maintains that deregulation does not give filling station operators permission to exploit consumers.

The authority said it was strengthening collaboration with the Federal Competition and Consumer Protection Commission (FCCPC) to monitor price-gouging, collusion, under-dispensing and the sale of compromised petroleum products. It also mentioned cooperation with the Nigeria Customs Service and other security agencies to monitor border corridors and address the smuggling and illegal diversion of petroleum products.

The NMDPRA also said it was creating dedicated reporting channels for consumers and industry stakeholders to report irregular pricing and other exploitative practices. Such complaints, it said, would be investigated and could lead to enforcement action.

This gives the NMDPRA a role in policing the market, even when it does not directly control the price. A station may be allowed to respond to market conditions, but issues such as under-dispensing, collusion and deceptive practices remain subject to regulation.

The challenge is whether these monitoring measures will be visible enough to consumers who are already paying more for petrol and receiving less value from their income.

The cost of running Nigeria keeps rising

Petrol is used to power generators, transport goods, move people, and support several small businesses. When its price rises, the effects can spread through the cost of transportation, logistics, food, and services.

For remote workers like Oluwatobi, fuel is part of the cost of earning an income. A power outage can mean starting a generator, buying petrol, and spending additional money to maintain a working environment. The expense becomes more difficult to manage when the price of petrol changes repeatedly.

Small businesses face a similar burden. A barber, tailor, food seller, content creator, or shop owner who depends on a generator may have to spend more on fuel or reduce the number of hours they operate. Some may transfer part of the cost to their customers, while others absorb it and take home less money.

The pressure also affects people who do not own generators. Higher fuel costs can increase transport fares and raise the cost of moving goods between markets, shops and homes. The impact is often felt in several places before consumers can identify where the increase began.

The NMDPRA’s position is that prices are determined by market forces. For consumers, the immediate reality is simpler: petrol costs more, household budgets are under greater pressure, and every trip to a filling station requires another calculation.

What happens now?

The federal government cannot simply stand aside and watch petrol prices climb while Nigerians are left to adjust their budgets again and again. The relevant agencies must bring oil marketers and other market players to the table, investigate exploitative practices and work towards measures that can prevent sudden, punishing price increases. Deregulation should not become an excuse for regulatory silence.

Nigerians are already paying more for food, transport, electricity and basic services. Every increase in petrol prices adds another weight to a household budget that is struggling to stay upright. If the trend continues unchecked, the cost of living may eventually kill the living.

And when that happens, perhaps Falz’s “This Is Nigeria” will no longer sound like a song describing the country. It will sound like a warning we heard, laughed about, and ignored.

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