Nigeria’s Petrol Price Hits ₦1,532 Per Litre as Cost-of-Living Crisis Deepens

The average price of petrol in Nigeria rose to ₦1,532.93 per litre in April, according to the latest figures released by the National Bureau of Statistics (NBS).

The new data highlights the growing pressure on households and businesses as fuel costs continue to climb across Africa’s largest economy.

Rising petrol prices have increased transportation costs, pushed up food prices and added to inflationary pressures already affecting millions of Nigerians.

Analysts say the increase reflects the continuing impact of fuel market reforms and could further squeeze consumer spending as families struggle with higher living expenses.

Nigeria’s fuel prices remain a key concern for businesses, investors and policymakers, with many watching closely for the broader economic effects of rising energy costs.

The latest figures underscore the challenges facing ordinary Nigerians as the country navigates economic reforms amid persistent inflation and a worsening cost-of-living crisis.