Figures cited by BusinessDay show that while international crude prices are soaring due to escalating tensions in the Middle East, Nigerian citizens are facing a “bleak Easter” due to a corresponding hike in local pump prices. In states like Anambra and Kano, transport fares have doubled as petrol scarcity resurfaces, further straining the disposable income of average families.
Economic analysts argue that the lack of functional local refining capacity means Nigeria remains “victim to global windfalls,” where high oil prices actually hurt the domestic economy through increased import costs. Small business owners have reported a sharp rise in operational expenses, citing the high cost of fueling generators as a primary threat to their survival.
Channels TV highlighted the “travelers’ lament in the Southeast,” while Daily Post reported that “petrol now sells for significantly higher than the regulated price in several northern states.”
Echotitbits take: High global oil prices are typically a win for the treasury but a loss for the Nigerian street. Until the Dangote refinery and state-owned plants fully stabilize the local supply, the “global crisis, local pain” cycle will continue to dictate Nigeria’s inflation rate.
Source: Vanguard – https://www.vanguardngr.com/2026/03/double-tragedy-nigerians-ration-power-hustle-for-fuel-as-petrol-price-hit-n1500/#google_vignette, April 5, 2026
Photo credit: Vanguard









