Nigeria's Petrol Prices Surge to N1,500 Amid Rising Costs

Petrol prices in Nigeria have risen to N1,500 per litre and above, with northern states experiencing the highest costs. In Damaturu, prices range from N1,500 to N1,520, while Kano, Sokoto, and Borno report prices around N1,500.

Taraba sees prices between N1,500 and N1,700, and Mubi motorists pay up to N1,850. The increases are attributed to rising crude oil costs, with transportation fares also rising significantly.

The price adjustments follow Dangote Petroleum Refinery's increase from N1,265 to N1,350 per litre, marking a cumulative rise of N185 in just 22 days. Chinedu Ukadike, publicity secretary of the Independent Petroleum Marketers Association of Nigeria, stated that higher crude costs will continue to affect petrol prices.

Joe Ajaero, President of the Nigeria Labour Congress, called for measures to alleviate the impact on workers and businesses, including wage awards and increased crude supply to local refineries. The current Brent crude price is $104.30 per barrel.