Nigerians have voiced their frustration over the failure of transporters to lower fares despite the recent drop in fuel prices.
While petrol prices were reduced, citizens claim transport fares have remained unchanged, or in some cases, have even increased.
On December 19, 2024, the Dangote Refinery announced a reduction in the ex-depot price of petrol from N970 to N899.50 per litre.
This led to a ripple effect in the market, with the Nigerian National Petroleum Corporation Limited (NNPCL) also lowering its ex-depot price to N899 per litre.
Additionally, Dangote Refinery partnered with MRS Petrol to retail petrol at N935 per litre, which was welcomed by many Nigerians.
Despite these reductions, many Nigerians are disillusioned as transport fares have failed to reflect the change in fuel prices.
On social media platforms like X, users shared their dissatisfaction:
#AsiwajuOladimeji posted, “When PMS was N1,200 a litre, transporters increased fares. Now that it’s reduced, there’s no change. Sometimes it’s not about the government. We’re also greedy as humans.”
#Arakunrin expressed frustration, noting that the transport fare from Oshodi to Iyana-Ipaja had increased from N500 to N700 due to rising fuel prices and now stands at N1,000 despite the drop in fuel costs.
Other users, like #Brendan Champion, and #Undisputed, echoed the sentiment that the slight reduction in fuel prices has not been enough to prompt a change in transport fares.
Users also pointed out discrepancies between the increase in fuel prices and the subsequent increases in transport fares, with many stating that the fare hikes were disproportionate.
#Wemmy remarked that although fuel prices saw a rise of over 500%, transport fare hikes were only between 100% and 200%.
Mr. Dele Oye, President of the National Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), highlighted that the high cost of transport is largely influenced by the value of the dollar.
He explained that Nigeria’s reliance on imports for much of its supply needs and its weak production capacity contribute to the high costs faced by Nigerians.
As the debate continues, Nigerians are calling for transparency and fair pricing in the transport sector.
Transporters are urged to pass on the benefits of lower fuel prices to passengers.
As the economy continues to feel the effects of various global factors, consumers hope for a more equitable distribution of savings.
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