Fuel prices skyrocketed at petrol stations across Nigeria, exacerbating challenges for citizens experiencing the worst economic crisis in decades, according to African media.
The state-owned oil company offered no explanation for the sudden increase of about 15-20 per cent seen across the country.
In early September, the Nigerian National Petroleum Company (NNPC) acknowledged significant debts to fuel suppliers. The NNPC also announced a price increase of almost 40 per cent to stabilise its financial position.
The cost of fuel remains a sensitive issue in Nigeria, where millions of families and businesses rely on petrol generators due to power supply issues. Meanwhile, the administration of President Bola Ahmed Tinubu is implementing reforms aimed at revitalising the economy of Africa’s largest country.
