Fuel Price Hike Pushes Transport Costs Higher

Enakaye Peculiar

Commercial transport fares have increased in several parts of Nigeria following a fresh rise in the price of Premium Motor Spirit (PMS), with petrol selling for as much as ₦1,400 per litre at some filling stations. The increase has placed additional financial pressure on commuters and heightened concerns over the rising cost of transportation.

The development follows Dangote Petroleum Refinery's decision to increase its ex-depot price of petrol from ₦1,075 to ₦1,215 per litre after resuming sales in naira. The adjustment has led many marketers to review pump prices upward, with motorists in some locations paying up to ₦1,400 per litre for fuel.

The higher fuel price has also compelled many commercial transport operators to increase fares to offset rising operating costs. The adjustment has affected both intra-city and inter-state travel, leaving many commuters spending more on their daily transportation.

Enakaye Gabriel, a commuter, said he recently paid ₦3,000 for a journey that previously cost ₦2,000, attributing the increase to the rising price of petrol. He said the hike in transport fares had placed additional pressure on his finances and called for measures to ease the burden on commuters.

According to media reports, industry analyst Abdullahi Shehu urged the Federal Government to supply crude oil to local refineries in naira at subsidised rates to reduce the cost of petrol. Economist and oil and gas expert Dr. Marcel Okeke also argued that the country's economic reforms had yet to improve the welfare of Nigerians, stressing that continued dependence on imported petroleum products had contributed to the persistent increase in fuel prices.

Comments

LASUSTECH Emerges Winner at CIIN NextGen Insurers Knowledge Challenge

By Momoh Oluwateniola Students of Lagos State University of Science and Technology (LASUSTECH) have emerged winners of the 2025/2026 NextGen Insurers Knowledge Challenge after scoring 14 points to beat students from University of Lagos with 12 points and Lagos State University with 10 points. The competition, organized by the Chartered Insurance Institute of Nigeria, was held on Thursday at the 700-Seater Auditorium, College of Applied Social Sciences (CASS), LASUSTECH, Ikorodu. UNILAG scored 12 points to come second, while LASU also participated. The quiz tested students’ knowledge of NIIRA 2025 and basic insurance ideas. Speaking at the event, CIIN officials said the aim was to help students understand insurance better and prepare for future careers. Guest speakers, including Seun Oyelere and Rilwan Sunmonu, encouraged students, while Banjo Kudirat Adeola advised them to stay focused on their studies. The Registrar/CEO of CIIN, Abimbola Tiamiyu, said the instit...

The Tomorrow trap: why we procrastinate and how to break free

By Irikefe Oghenetega Victor It’s 11 p.m. in Lagos, and that major project due at 9 a.m. is staring back at you from your laptop screen. Yet somehow, the work hasn’t started. Instead, you’re rearranging your playlist to create the “perfect” study vibe, finally replying to that group chat message from last week, or falling down an unexpected rabbit hole about why ancient Roman aqueducts were such a brilliant engineering feat. The minutes slip by. The clock seems to tick louder. A quiet sense of guilt begins to creep in, but the scrolling continues. For many university students, this cycle is all too familiar , an endless tug-of-war between looming deadlines and the irresistible distractions of the digital world. You're not lazy. You're human. Procrastination isn't a willpower deficit or a time-management glitch, it's an emotional rescue mission gone sideways. Modern psychology, led by researchers like Timothy Pychyl and Fuschia Sirois, frames it clearly: procrastinati...

LASUSTECH, LIRS partners to Boost Tax Literacy Among Staff

By Okenu Favour Lagos State University of Science and Technology in collaboration with Lagos State Internal Revenue Service partners to boost tax literacy among all university staff. The event will hold at the 500 seater auditorium, Ikorodu campus on the 12th of March 2026. In a statement issued by the Department of Information and Public Relations, LASUSTECH, all staff were advised to make attendance of the programme a point of duty. "This important session will provide staff with valuable insights into the provisions of the new law and its impact on the employees of this university" he explained. Additionally, LASUSTECH partnership with officials from LIRS creates a platform where the employees can be informed on the implementation of the new tax law and how it affects them .They will ensure that adequate answers are given to any question raised during the meeting. The aim of this sensitization is to ensure full understanding of the changes and compliance ...

The Compass

Search This Blog