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- Fuel pricing has shaped Nigeria’s economical landscape, impacting citizens crossed decades
- From subject to civilian administrations, each authorities navigated fluctuating petrol costs driven by policies and planetary marketplace shifts
- This study examines the existent substance prices nether successive Nigerian presidents, from Shehu Shagari to Bola Tinubu
The terms of substance has been a defining facet of Nigeria’s economy, affecting transportation, industries, and household expenses.
Since 1978, successive administrations person overseen fluctuations successful substance prices, often influenced by economical policies, planetary lipid trends, and subsidy arrangements.
Source: Getty Images
Here is simply a breakdown of substance prices nether each Nigerian president.
Fuel terms nether Obasanjo successful 1978
In 1978, during Olusegun Obasanjo’s subject rule, the terms of petrol stood astatine ₦0.50 per litre, a humble complaint compared to aboriginal years.
Fuel terms nether Shagari successful 1982
Shehu Shagari’s civilian authorities maintained substance astatine ₦0.20 per litre, offering comparative affordability to consumers.
Fuel terms nether Muhammadu Buhari successful 1984
When Major General Muhammadu Buhari took powerfulness successful 1984, the terms remained unchanged astatine ₦0.20, reflecting the controlled economical policies of the period.
Fuel terms nether IBB successful 1986
Under General Ibrahim Babangida (IBB), substance prices experienced their archetypal large hike, reaching ₦0.395 per litre successful 1986, a determination that signalled unprecedented economical restructuring.
Fuel terms nether Abacha successful 1994
General Sani Abacha continued with the terms acceptable by erstwhile regimes, stabilising petrol costs astatine ₦11.00 per litre. His medication maintained this complaint crossed aggregate years.
Fuel terms nether Abdulsalami Abubakar successful 1999
As Nigeria transitioned backmost to antiauthoritarian governance, General Abdulsalami Abubakar approved a substance terms summation to ₦20.00 per litre, paving the mode for further hikes successful the civilian era.
Fuel terms nether Obasanjo successful 2000
President Olusegun Obasanjo’s medication saw accordant increases, with petrol reaching ₦22.00 per litre successful 2000 and gradually rising successful consequent years to ₦60.00 by 2005.
Source: UGC
Under Yar'Adua successful 2008
During President Umaru Yar’Adua’s tenure, substance stood astatine ₦65.00 per litre, continuing the signifier of dependable terms adjustments witnessed successful erstwhile years.
Under Jonathan successful 2012
Under President Goodluck Jonathan, Nigerians experienced a crisp emergence successful substance costs, with prices jumping to ₦120.00 per litre successful 2012 and further expanding to ₦145.00 by 2016.
See the nexus to the fuel prices here.
Source: UGC
Fuel terms nether Buhari successful 2016 and Tinubu successful 2025
Muhammadu Buhari’s medication continued the inclination of subsidy reforms, stabilising petrol astatine ₦145.00 per litre and nether Tinubu astatine ₦800 and supra —one of the highest recorded figures astatine the time.
NNPC reduces substance terms by N10
Legit.ng earlier reported that The Nigerian National Petroleum Company Limited (NNPCL) has slashed its petrol pump terms to N870 per litre connected Tuesday, May 27, 2025, for its Lagos retail stations.
This caller terms represents a N10 simplification from the erstwhile pump terms of N880 per litre, and erstwhile again, returns to NNPC stations arsenic the spot to get the cheapest fuel.
Ademola, a filling presumption attendant successful Lagos who confirmed the caller terms to Legit.ng, said: "This morning, we received instructions to set the pump terms from N880 to N870 per litre."
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Source: Legit.ng
