Recent government policy changes, particularly the significant rise in fuel pump prices, are taking a heavy toll on Nigerians. The Nigerian National Petroleum Company Limited has adjusted petrol prices twice this year, raising them from N617 to N855, with prices in Lagos state reaching N950 and exceeding N1,000 in other regions within just two weeks in September.
This surge in fuel prices has led to drastic increases in market prices and transportation costs, forcing many Nigerians to adopt various survival strategies. However, the recent hikes have not been well-received by workers, prompting some to resign from their jobs or even sleep at their workplaces to mitigate commuting expenses.
Mr. Dotun Owoyemi, a worker commuting from the mainland to the Island, expressed frustration over the situation: “I used to spend N800 for my daily commute, but now it costs me between N2,500 and N3,000. The commercial bus drivers have also increased fares dramatically; a N200 fare is now N500, and a N100 fare has jumped to N300. With my five-figure salary, I spend almost half of my monthly earnings on transportation alone.”
He pointed out that the minimum wage of N70,000 is inadequate in many private organizations, leading him to resign from his job. “This fuel price increase benefits a select few, not salary earners. If you visit the market today, you will see how severely this new policy has affected the prices of goods. Many businesses are passing on the cost of fuel to consumers, resulting in higher prices for essential goods and services.”
Miss Sandra Douglas shared her experience, stating, “I’ve resigned already. I live around Elelonwo in Port Harcourt and was working at King Perekule, GRA. I spent N52,000 on transportation for a job that paid less than N100,000. I was working but couldn’t even afford to feed myself.”
The plight of these workers underscores the broader economic challenges facing Nigerians as they navigate the rising cost of living amidst increased fuel prices. The situation raises concerns about the sustainability of wages and living conditions for the average citizen in the current economic climate.