Abuja Residents Dump Private Cars as Fuel Prices Soar

The persistent rise in petrol prices is forcing many residents of the Abuja to abandon their private vehicles and embrace public transportation, while a growing number of low-income earners now trek to work to survive worsening economic conditions.

The development comes amid fresh increases in fuel prices across Nigeria following rising global crude oil prices linked to tensions in the Middle East and recent upward adjustments in depot prices by the Dangote Petroleum Refinery and petroleum marketers.

Petrol prices in parts of Abuja and other major cities have climbed to between ₦1,350 and ₦1,400 per litre, significantly increasing transportation and living costs for residents already struggling with inflation and declining purchasing power.

Checks across major roads in the Federal Capital Territory showed a noticeable drop in vehicular traffic, particularly along the usually busy Kubwa expressway between the Suleja and Madalla axis, where congestion has reduced compared to previous months.

Residents say many motorists now reserve their vehicles for emergencies or weekends due to the high cost of fueling.

A civil servant living in Dutse Alhaji, Sholape Kolawole, said she stopped using her car several months ago because her salary could no longer sustain daily fuel expenses.

“It has been stressful using commercial vehicles, but I have no choice since I cannot afford to fuel my car every day to work,” she said.

“To cut costs, I stopped using the car and resolved to taking commercial vehicles to the office and back. It is also expensive, but still cheaper than using my car.”

Commercial transport operators are also feeling the impact of the fuel crisis. A transporter based in Kubwa village, James Obasi, said many operators had scaled down operations because unstable fuel prices were making business unsustainable.

He warned that the situation was hurting small businesses and called for urgent government intervention to stabilise fuel costs and support transport operators.

Another resident, Emmanuel Ajayi, said he had not bought petrol for his vehicle in months and now depends on multiple commercial vehicles daily, a situation he said was affecting his health and productivity.

The rising transport costs have also pushed more residents to trek short and medium distances within the city, especially during morning and evening rush hours, as commuters struggle to cope with increasing fares.

Development expert and customer experience specialist, Dr Aliyu Ilias, described the situation as alarming, noting that many workers now stay home on some days because they cannot afford transportation expenses.

According to him, the hardship is partly connected to instability in the global oil market caused by geopolitical tensions and supply disruptions.

He argued that as an oil-producing nation, Nigeria should ordinarily benefit from rising crude prices, but citizens are yet to feel any direct relief despite reports of increased government oil revenues.

“One practical solution will be for the Federal Government to provide crude oil to local refineries at reduced rates, enabling them to refine and sell petrol at more affordable prices,” he said.

“Such a strategy can help stabilise fuel prices and reduce pressure on transportation and living costs.”

He added that the economic consequences of rising petrol prices were severe, warning that disposable income had almost disappeared for many households as purchasing power continues to weaken.

The National Coordinator of the Human Rights Writers Association of Nigeria, Emmanuel Onwubiko, also described the fuel price increase as an economic shock capable of crippling Nigeria’s informal sector.

He warned that thousands of small businesses that rely heavily on petrol-powered operations could collapse if urgent steps are not taken.

“Barbing salons, welding workshops, small-scale manufacturers, transport operators, and countless petty traders who depend on petrol for daily operations will be forced to shut down,” he said.

“This will trigger a dangerous surge in unemployment, particularly among youths and women, thereby worsening social instability and insecurity.”

Onwubiko called on President Bola Tinubu to urgently intervene by implementing price stabilisation measures and stronger regulatory oversight to protect consumers from exploitative market conditions.

Economic analysts say the latest fuel price crisis once again exposes Nigeria’s vulnerability to fluctuations in global oil prices despite being one of Africa’s largest crude oil producers.

The situation has also reignited debates over domestic refining capacity, fuel subsidy alternatives, and the need for sustainable transportation policies as millions of Nigerians continue to grapple with the rising cost of living.

Abuja Residents Dump Private Cars as Fuel Prices Soar

US–Iran Crisis Drives ₦5.13tn Oil Windfall for Nigeria

Nigeria has recorded an estimated ₦5.13 trillion surge in oil revenue within two months, driven by a sharp rise in global crude prices following escalating tensions linked to the United States–Iran geopolitical crisis. The development significantly exceeded projections in the Federal Government’s 2026 budget and temporarily strengthened fiscal inflows.

The crisis, which began with crude trading below $70 per barrel, triggered a sustained rally that pushed prices above $120 at some point, with Brent crude hovering around $110 per barrel and Nigeria’s premium grade, Bonny Light trading as high as $134 per barrel in recent sessions.

Nigeria’s 2026 budget was based on conservative oil assumptions, including a production target of 1.8 million barrels per day, a benchmark price of $64.85 per barrel, and an exchange rate of ₦1,400 to the dollar. At these assumptions, projected daily oil revenue stood at about $116.73 million (₦163.42 billion). However, these projections were quickly overtaken as global market conditions shifted sharply.

In March, crude production averaged 1.55 million barrels per day, below the target by about 250,000 barrels. Despite the shortfall, higher prices lifted earnings significantly. With an average crude price of $95.03 per barrel and an exchange rate of ₦1,370 to the dollar, daily revenue rose to about ₦201.80 billion, creating a daily surplus of ₦38.38 billion and a total windfall of approximately ₦1.19 trillion for the month.

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Combined, March and April generated a total excess oil revenue of ₦5.13 trillion, with March contributing ₦1.19 trillion and April accounting for ₦3.94 trillion. Analysts note that this surge was driven mainly by higher global crude prices rather than increased production, underscoring Nigeria’s continued exposure to external oil market shocks.

Simulations show that without the price surge, earnings would have been significantly lower. At benchmark pricing, March revenue would have fallen to about ₦4.27 trillion equivalent, while April revenue would have stood at about ₦4.52 trillion equivalent, highlighting the scale of the windfall created by global price volatility.

Despite the increase in government revenue, Nigerians are experiencing rising fuel costs. Dangote Refinery recently adjusted gantry prices to about ₦1,275 per litre, while retail fuel prices have climbed to between ₦1,350 and ₦1,400 per litre across several locations. This has further increased transport and food inflation nationwide.

Nigeria’s crude pricing structure has also adjusted in response to global market movements, with key crude grades such as Bonny Light and Forcados recording notable price increases for May-loading cargoes. These adjustments reflect stronger international demand and tighter supply conditions.

Energy stakeholders have expressed concern that the revenue windfall is not translating into relief for citizens. Some industry operators warn that petrol prices could rise above ₦1,500 per litre if geopolitical tensions persist, while economists describe the situation as a “two-edged sword” that boosts government earnings but worsens cost-of-living pressures.

Calls have intensified for targeted government intervention, including direct support for vulnerable households, improved social welfare data systems, and measures to cushion the impact of rising transport and food costs. However, experts note that the absence of reliable national data continues to limit effective intervention.

Local refiners have also called for reforms in crude pricing for domestic supply, arguing that benchmarking local crude strictly to international prices inflates costs and undermines local refining operations. Economists have further suggested the adoption of a stable domestic pricing framework to reduce volatility in fuel prices.

Overall, while the ₦5.13 trillion oil windfall provides short-term fiscal relief, analysts warn it reinforces Nigeria’s long-standing dependence on volatile global oil markets. The situation highlights a recurring pattern in which external geopolitical tensions boost revenue while simultaneously increasing domestic economic pressure.

US–Iran Crisis Drives ₦5.13tn Oil Windfall for Nigeria

FG Summons South African Envoy Over Xenophobic Attacks On Nigerians

The Federal Government of Nigeria has summoned the Acting High Commissioner of South Africa following renewed concerns over xenophobic attacks, harassment of Nigerians and attacks on Nigerian-owned businesses in South Africa.

The diplomatic meeting is scheduled to hold on Monday, May 4, 2026, at the headquarters of Nigeria’s Ministry of Foreign Affairs in Abuja.

The development was confirmed in a statement issued on Saturday by the ministry’s spokesperson, Kimiebi Ebienfa, quoting the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu.

According to the ministry, the meeting is aimed at formally expressing Nigeria’s deep concerns over recent developments in South Africa that could negatively affect the longstanding diplomatic relationship between both African nations.

Ebienfa explained that discussions during the meeting would focus on ongoing anti-foreigner protests in South Africa, as well as reported incidents involving the harassment of Nigerian nationals and attacks on businesses owned by Nigerians.

“The Ministry is aware of the growing discontent among Nigerians concerning the treatment of their nationals in South Africa,” the statement read.

“Nevertheless, the ministry implores the Nigerian public to remain calm and reiterates the Federal Government’s commitment to protecting the rights and well-being of Nigerian citizens residing in South Africa.”

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The latest diplomatic move follows renewed reports of xenophobic demonstrations and anti-immigrant protests in parts of South Africa, particularly in communities where foreign nationals operate businesses.

Several videos circulating online in recent days allegedly showed protesters demanding the closure of businesses owned by foreigners, including Nigerians, while accusing immigrants of contributing to crime, unemployment and economic hardship.

The situation has sparked anxiety among Nigerians living in South Africa, with community leaders and advocacy groups reportedly urging both governments to take urgent steps to prevent escalation.

South Africa has experienced repeated outbreaks of xenophobic violence over the years, especially in 2008, 2015 and 2019, when many African migrants — including Nigerians, Zimbabweans, Ethiopians and Somalis — were attacked, displaced or killed during violent protests.

The 2019 attacks caused major diplomatic tension between Nigeria and South Africa after several Nigerian-owned businesses were destroyed and many citizens injured.

At the time, Nigeria boycotted the World Economic Forum on Africa held in South Africa and demanded stronger protection for Nigerians living in the country.

Despite the recurring tensions, Nigeria and South Africa remain two of Africa’s largest economies and maintain strong diplomatic, political and trade ties dating back to Nigeria’s support for South Africa during the anti-apartheid struggle.

South African authorities have also publicly condemned recent anti-foreigner violence. Acting Police Minister Firoz Cachalia reportedly warned that xenophobia, intimidation and attacks on foreign nationals would not be tolerated.

The Nigerian government reiterated its commitment to continued diplomatic engagement with South African authorities to ensure the safety, dignity and protection of Nigerians residing in the country.

FG Summons South African Envoy Over Xenophobic Attacks On Nigerians