“We’re Better Off” — Tinubu Defends Nigeria’s Fuel Prices Amid Rising Costs

President Bola Ahmed Tinubu has stated that despite the rising cost of fuel in Nigeria, the country remains better positioned than some African nations, including Kenya.

The President made the remarks on Thursday during a visit to Yenagoa for the commissioning of key projects, where he addressed growing concerns over the nation’s economic challenges.

Acknowledging the burden of high fuel prices on Nigerians, Tinubu noted that while the situation is difficult, it is comparatively less severe than in other parts of the continent.

“Yes, I hear you from the angles of the economy; the fuel prices are biting hard,” he said. “But look around; let’s thank God together that we are better off than those in Kenya and other African countries.”

Data indicates that fuel prices in Kenya currently stand at approximately $1.37 per litre, equivalent to about ₦1,862, significantly higher than Nigeria’s prevailing rates.

In Nigeria, fuel prices have surged in recent weeks, ranging between ₦1,290 and ₦1,350 per litre, driven largely by global crude oil volatility. Prices have been influenced by ongoing geopolitical tensions, including the Iran–United States–Israel tensions 2026, which began in March and has impacted international oil markets.

Over the past six weeks, petroleum marketers, depot owners, and the Dangote Refinery have adjusted domestic pump prices to reflect rising global crude prices, currently hovering between $95 and $100 per barrel.

The President’s comments come amid continued public concern over the cost of living, with fuel prices remaining a key driver of inflation and economic hardship across the country.