Fuel price surge raises transport, business costs in Lagos

Lagos
2 Min Read

Residents, transport operators and business owners across Lagos have expressed concern over rising fuel prices, saying the increase is worsening transportation costs, business operations and household expenses.

A survey conducted across parts of the state showed that petrol prices have climbed from around N1,250 per litre to over N1,300 in several filling stations, while some outlets now sell as high as N1,440 per litre.

Hassan Dogara, Station Manager at NNPC Falomo, attributed the increase to volatility in the fuel market, citing global supply disruptions and rising operational costs.

Commercial driver Adeyemi Olufemi said the hike has severely affected transport operators and commuters alike.

According to him, his daily fuel expenses have jumped from N11,000 to about N23,000.

“The increase has made business difficult because many people now prefer walking or staying at home,” he said.

In Festac Town, fashion designer Oluwaseun Alamu said he now relies more heavily on petrol-powered generators to sustain his business.

“Things are very difficult now. Paying for basic necessities is expensive, and I have had to reduce my living expenses drastically,” he said.

Real estate operator Emmanuel Okpa also noted that the rise in petrol and diesel prices has significantly increased operational costs for businesses.

Similarly, businesswoman Bilikis Oladeji in Surulere said she now spends at least N50,000 weekly on fuel.

“The situation has created uncertainty because many Nigerians are worried about the future,” she said.

A digital writer based in Mushin, who requested anonymity, said rising transport fares have forced him to cut down on movement and reduce spending.

The persistent increase in fuel prices continues to drive up transportation fares, commodity prices and the overall cost of living for households and businesses across Lagos.

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