NewStats: 3,263,054 , 8,178,972 topics. Date: Wednesday, 04 June 2025 at 02:23 PM 494453

Since President Bola Tinubu assumed office in May 2023, Nigeria has seen significant increases in the prices of various essential goods and services, affecting the cost of living for millions.

These hikes, attributed by the government to necessary economic reforms, have sparked widespread debate and concern.

While the government argues that these increases are necessary for economic reforms and sustainability, they have undeniably contributed to the rising cost of living.

PUNCH Online highlights a list of major items and services that have seen price hikes during Tinubu’s istration.

1.⁠ ⁠Fuel price surge

One of the most significant and controversial price hikes has been in fuel. Following the removal of the fuel subsidy in May 2023, the price of Motor Spirit, commonly known as petrol, soared. The pump price jumped from around ₦185 per litre to over ₦500 per litre, with reports of prices reaching ₦700 per litre in some areas. This surge has had a ripple effect on transportation costs, food prices, and overall inflation.

2.⁠ ⁠Electricity tariffs increase

Electricity tariffs also saw a sharp rise. The Nigerian Electricity Regulatory Commission approved a tariff increase for Distribution Companies (DisCos), raising the tariff for Band A customers from ₦68/kWh to ₦225/kWh, a staggering 240% increase. According to the government, this move, which took effect in April 2024, aims to save the government ₦1.5 trillion by removing subsidies on electricity for this customer category. However, the hike has significantly added pressure on household expenses.

3.⁠ ⁠port fee hike

The Federal Government approved an upward review of port fees, effective from September 1, 2024. According to a statement by the Nigeria Immigration Service (NIS), the cost of a 32-page port booklet with five-year validity increased from ₦35,000 to ₦50,000, while the 64-page booklet with ten-year validity rose from ₦70,000 to ₦100,000. The NIS stated that the hike was necessary to maintain the quality and integrity of the Nigerian port.

4.⁠ ⁠Rising cooking gas prices

Cooking gas prices have continued to climb. As of March 2024, the average cost to refill a 5kg cylinder of Liquefied Petroleum Gas (LPG) increased by 7.10% from February, reaching ₦6,591.62. Year-on-year, this marks a 42.97% increase from ₦4,610.48 in March 2023. The National Bureau of Statistics attributed this rise to various economic factors, including higher import costs.

5.⁠ ⁠Higher transportation costs

Transportation costs have significantly increased, largely driven by the fuel price hike. Public transportation fares in cities like Lagos and Abuja have doubled or even tripled. For example, the average bus fare from Berger to Mowe increased from ₦300 in March 2023 to ₦500 by August 2024. This surge has made commuting and intercity travel considerably more expensive for Nigerians.

6.⁠ ⁠Food price inflation

Food prices, already on the rise due to inflation and insecurity, have been further exacerbated by the removal of the fuel subsidy. The increased transportation costs have directly impacted the prices of staples such as rice, beans, and maize, placing additional strain on household budgets across the country.

7.⁠ ⁠Tuition fee increase

Tuition fees in several federal universities have also been hiked. For instance, the University of Lagos raised its tuition fees from around ₦19,000 to ₦190,250 for medical students and ₦140,250 for other courses. This substantial increase, announced in July 2023, has sparked protests among students and concerns over access to affordable education.

https://punchng.com/full-list-from-fuel-costs-to-port-fees-nigerians-struggle-under-the-yoke-of-price-hikes/

Expect more if the structure remains the same.

I wonder what Reno will fact check for their keyboard warriors here.

Omooba77:
↪ Since President Bola Tinubu assumed office in May 2023, Nigeria has seen significant increases in the prices of various essential goods and services, affecting the cost of living for millions.
These hikes, attributed by the government to necessary economic reforms, have sparked widespread debate and concern.
While the government argues that these increases are necessary for economic reforms and sustainability, they have undeniably contributed to the rising cost of living.
PUNCH Online highlights a list of major items and services that have seen price hikes during Tinubu’s istration.

Nigerians disagree with the Punch on this given they have made nearly no efforts to evict the istration, Senators, Representatives, Governors, and LGA councilmen from office in all of this. It almost seems the Nigerian people have not had enough.

I feel that The FG should give some explanations to why these things are like this

I know its a very big project that looks really promising, but FG should try carry us all along, so that naysayers can be on same page with us

PBAT!!!
Forward Ever

We never see something, we are yet to see the part 2 of tinubulations. TINUBU IS OUR MESSIAH

All under Tinubu’s balabloo-blu-bulava heroin-infested brain tinubulation grab it, snatch it and run away with it government.

-#160B exotic cars for NASS.
-#150B for a new presidential jet.
-#5B for a luxury presidential yatch.
-#21B for renovation of the VP lodge.
-#Unknown billion for motorcade tires.
-#90B to subsidize religious hajj pilgrimage.
-#12B for Olympics carnival jamboree with nothing to show for it.
-#Unknown billions for UNGA including the inclusion of his children to NY. All these corruption are in billions and still counting.

Meanwhile, this is a government that is complaining of meeting an empty treasure and a bastardized economy. This is the same government telling the pauperized citizens of a bleeding nation they have weaponised poverty to be afflicting some more to stop protesting and tighten their belts for more economic impact.

TINUBU and APC

A burden placed on Nigeria

Who did we offend please? There has been intentional efforts to kill Nigeria since 2015

Ojota 2012 protesters are you happy now? Adeboye, Tinubu, Bakare, Soyinka

GEJ saw tomorrow and warned us against these clueless persons

CyrusVI:
I feel that The FG should give some explanations to why these things are like this

I know its a very big project that looks really promising, but FG should try carry us all along, so that naysayers can be on same page with us

PBAT!!!
Forward Ever

You're almost on all threads writing absolute rubbish to defend govt or ridicule cogent criticisms
Is this a job or pure foolishness
If it's a job, apply sense na
If it's just foolishness, receive sense!!

Woe unto this people.

The thief commeth to steal, to kill and to destroy.

We die here

Tinubu is Nigeria's most useless President

Tinubu taxation policy in Lagos and now on National level is a big call for concerns.
How can some one be so fixated on Tax, only for the Tax to be squander or spend Lavishly on few individuals.

Tinubu need to understand that, No nation can be Tax to prosperity.

Una never see anything

After all these 4yrs of adverse suffering, you go think say the citizens go don get sense by 2027. But you will be so surprised to hear dem say "we must rule our own 8yrs oooooo".
You go think say dem don get sense, but na lie. The average Nigerian is ready to suffer provided the man in power is from his tribe or religion. Laslas, dem go tell you say "pray for the government and stop criticizing it" .
Abeg jare, we deserve the award of "most f00lish citizens worldwide ". But Guinness book of records is still holding back our award.
What do I know sef aside enlightening my fellow men nationwide with the good news

Oga if you no meet your wife as a virgin, oga go for DNA test oooooo because boreholes aka non-virgins can't be trusted atall atall

We never see anything...

they dey deceive una with imaginary reduced cost in foodstuffs.

Omo everything is still going up

after buhari ,una still allow another old man become president.nigeria president is retirement program for old corrupt generational criminals.another one is still warming up.well Nigerians are enjoying now when I imagine what the next 3years will look like.tinubu said he will continue the good work of buhari and this is just the starting point

More sege is coming

if you're still in of tinubu and APC it shall never be well with u and your family

Omooba77:
https://punchng.com/full-list-from-fuel-costs-to-port-fees-nigerians-struggle-under-the-yoke-of-price-hikes/

That is the Lagos master plan of Jeun soke, jeun sapo for increasing IGR to share with a few cronies who will ensure votes are delivered for the godfather landlord to continue his chokehold of the people.

pluto04:
fashola-battles-to-justify-lasu-fee-hike

Okay. Not exactly what he said. But that is exactly what he implied. How much is the minimum wage of Lagos state civil servants? He seems to be out of touch and his statements are highly irresponsible!

http://www.vanguardngr.com/2011/12/fashola-battles-to-justify-lasu-fee-hike/

Governor Babatunde Fashola battled hard weekend, to justify the astronomical hike in tuition fees recently introduced in Lagos State University, LASU, by the state government. Recall that the state government had increased tuition fees paid in the university from N25,000 to N250,000 per session.

Fashola, who spoke at Government College, Ughelli’s, annual luncheon party in Lagos, said Nigerians were unconsciously making the country one where there would be separate schools for the rich and poor.

According to him, critics of the increment are indirectly calling for a Nigerian society which will be divided into poor university for the poor and rich university for rich people.


He said: “Countries that do not prioritise education are always at the mercy of those who place a high on education.

“Where in the world have we seen tuition fee of university of N25,000? You cannot find this anywhere. Even the nations that are developed and wealthy do not give education for N25,000.

“LASU started very well and over the years, the population grew and beyond the available facilities and the school began to deteriorate. We are determined to rescue LASU and we will not make it a school for the poor.

“We are unconsciously making Nigeria a society where there will be a school for the rich and one for the poor.
“Several people in this country pay so much for education abroad while the schools here continue to deteriorate. It is only in the university that the children of the rich and children of the poor can sit in the same classroom.”

If Tinubu can do these in first Term as president, what will happen to Nigerians if he enters for second tenure where he has no more fear for election loss?
Most Nairalanders won't have data to come online again.

hj

Peter Obi must learn a lesson
7 more years to go, e patewo fun Tinubu

Peak milk family size was N6,000 two years ago but it’s N51,000 today

Tulumbu is a disaster, that is all I have to said.

Any 30k Agbadorian that wants to quote me, please argue with your keypad!

May all the 7 price hikes favour me and my family.

And first year is usually the best year for any istration meaning that this is just the shege, the banza is still at the front.

You all brace up for impact.

We all forget too soon. So these people only take advantage of our amnesia. During his campaigns, that was when fuel was being increased gradually almost on a monthly basis from N165 upto 195. I him telling everyone 'ẹ fi ọkan yin baalẹ. a o mu wa lẹ' (meaning: you all should calm down, we will bring it down). Rather they raised everything they met by six folds just so they can have more to steal.. did they play the people?!🤔

If you re still under any illusion that things would get better, this is the time to wake up. You can't give what you don't have.

🚶🏾‍♂️🚶🏾‍♂️🚶🏾‍♂️

CyrusVI:
I feel that The FG should give some explanations to why these things are like this

I know its a very big project that looks really promising, but FG should try carry us all along, so that naysayers can be on same page with us

PBAT!!!
Forward Ever

you'll never go Forward in your life

Baby steps of suffering. Brace for more. Hehehe.

long shall your reign be akanbi. Your leadership style is the best

Kobojunkieee:
Nigerians disagree with the Punch on this given they have made nearly no efforts to evict the istration, Senators, Representatives, Governors, and LGA councilmen from office in all of this. It almost seems the Nigerian people have not had enough.

Remaining 7 years. Please endure it.

CyrusVI:
I feel that The FG should give some explanations to why these things are like this

I know its a very big project that looks really promising, but FG should try carry us all along, so that naysayers can be on same page with us

PBAT!!!
Forward Ever

If you want to wail ebiNpawa, do so with your open chest instead of this stylish bẹgbẹwọ̀ wailing.