The African Democratic Congress (ADC) has claimed that petrol prices in Nigeria have increased by almost 500 percent since Bola Ahmed Tinubu became president in May 2023.
The statement was made by the party’s National Publicity Secretary, Bolaji Abdullahi, while responding to criticism from the ruling All Progressives Congress (APC).
The APC had earlier accused the opposition party of trying to incite Nigerians with its comments on the economic reforms introduced by the Tinubu administration.
In a statement released on Sunday, Abdullahi said the ADC was only drawing attention to publicly available data about Nigeria’s economic situation.
According to him, several independent reports and surveys suggest that many Nigerians are struggling more with poverty and rising living costs.
He said Nigeria’s poverty rate has increased to about 63 percent, compared to roughly 50 percent before the removal of the petrol subsidy.
The subsidy on petrol was removed shortly after Tinubu assumed office in 2023, a move the government said was necessary to reduce public spending and redirect funds to important sectors of the economy.
However, critics argue that the policy has significantly increased the cost of living.
Abdullahi said survey data shows widespread dissatisfaction with the direction of the country.
According to him:
93 percent of Nigerians believe the country is moving in the wrong direction.
88 percent describe the national economy as “bad.”
74 percent say their personal living conditions are poor.
“These are not opposition talking points,” Abdullahi said. “They are the views of Nigerians themselves, including members of the ruling party.”
He added that the government’s claim that the economic hardship is temporary does not match the realities faced by many citizens.
Abdullahi cited survey results showing that many Nigerians have struggled to afford basic necessities over the past year.
According to the data he referenced:
82 percent of Nigerians said they went without enough food at least once in the past year.
82 percent reported being unable to access medical care at some point.
79 percent said they lacked cooking fuel.
74 percent went without clean water.
95 percent reported having no cash income at certain times during the year.
The ADC spokesman said petrol prices have risen sharply since the removal of the subsidy.
He claimed the price of petrol increased from about ₦255 per litre before May 2023 to around ₦1,500 per litre in many parts of Nigeria.
According to him, the rise in fuel prices has led to higher transportation costs and increased food prices across the country.
Abdullahi also questioned how the government is using the savings from the subsidy removal.
The Tinubu administration has said the policy has saved Nigeria about ₦6.4 trillion, which it says will be redirected to infrastructure, social programmes, and other critical sectors.
But Abdullahi asked where the money is being spent.
“Nigerians are asking a simple question,” he said. “If subsidy savings are truly being redirected to important sectors, where exactly is the money going?”
He also raised concerns about unpaid contractors and underfunded universities.
Abdullahi said the situation in Nigeria’s agricultural sector is also worrying.
He cited reports that nearly 90 rice mills across the country have shut down, while many others are operating below full capacity.
He also referred to data from the National Bureau of Statistics (NBS), which shows that Nigeria’s food import bill has increased significantly.
According to the data, the country’s food import bill rose from ₦3.83 trillion in 2023 to about ₦7.65 trillion.
Abdullahi said economic reforms should be judged by how they affect ordinary citizens.
“When poverty rises from 50 percent to 63 percent, when nine out of ten Nigerians say the country is on the wrong path, and when millions struggle to afford basic necessities, it is clear something is fundamentally wrong,” he said.
He added that Nigerians expect government policies that improve their living conditions and warned that the gap between official claims and the everyday experiences of citizens could continue to grow if urgent action is not taken.
