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Why Are Fuel Prices Rising in Nigeria?

General 51 days ago
  • User
    Berry
    51 days ago
    Thread Thumbnail

    You wake up today,

    Fuel is ₦650.

     

    Tomorrow comes,

    It’s ₦720.

     

    Why is this happening?

    Let’s break it down.

     

    1. Subsidy is gone

    Government stopped paying part.

    Now we pay full price.

     

    2. Naira is weak

    We import fuel.

    We buy it in dollars.

    Dollar is now expensive.

     

    3. No local refinery

    Our fuel goes abroad,

    Then comes back to us —

    More expensive.

     

    4. Global oil prices

    When oil price rises,

    Fuel price follows.

    Even if it's not our fault.

     

    5. Transportation cost

    Fuel moves by trucks.

    Bad roads + fuel = higher price.

     

    6. Government policy

    No price control now.

    Marketers fix their own price.

     

    That’s why fuel is rising.

    And it may rise again.

     

    The poor suffer most.

    But the pump doesn’t care.

     

     

     

    #FuelPriceNigeria #WhyFuelIsCostly #NoMoreSubsidy #NairaCrisis #PumpPain #KonnectAfrica #PetrolUpdate #NigeriaEconomy #StreetTalk #HardReality

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