According to a report published by Daily Post on Tuesday, September 1, 2026, former Vice President and presidential contender of the African Democratic Congress (ADC), Atiku Abubakar, questioned why Nigeria has been unable to sell Premium Motor Spirit (PMS) at prices between N441 and N872 per liter. He pointed out that countries such as the UAE, Angola, and Kuwait have achieved prices within that range despite also being oil-producing nations.
Atiku raised the issue while addressing the rising cost of gasoline in Nigeria and the broader pressure that higher fuel prices are placing on the country’s economy. His comments focused on the disparity between Nigeria’s status as a major crude oil producer and the comparatively high prices Nigerians pay for petrol.
On Tuesday, Atiku’s media team issued a statement conveying the candidate’s position on the matter. In the statement, the former vice president argued that Nigeria’s petrol prices were significantly higher than those in other oil-producing countries, despite the country’s substantial crude oil production.
He also emphasized that Nigerians generally earn less than people in many of the countries where gasoline is sold at lower prices. This difference, he suggested, makes the impact of rising fuel costs even more severe for Nigerian households, businesses, and the wider economy.
The statement followed a sharp increase in gasoline prices in Abuja and surrounding areas over the previous two weeks. At the affected filling stations, petrol prices rose to between N1,310 and N1,345 per liter, adding to concerns about transportation expenses, household budgets, and the cost of goods and services.
Because gasoline prices directly affect transportation costs as well as the prices of goods and services across the country, the latest increase intensified concerns about the steadily rising cost of living. At several filling stations, including the Nigerian National Petroleum Company Limited (NNPCL), MRS, Ranoil, and others, retail gasoline prices climbed by between 20 and 80 Nigerian naira per liter.
The increase came after Dangote Refinery raised its gantry price by N65 per liter, adding to the economic hardship Nigerians were already facing. That adjustment was subsequently reflected in higher pump prices, placing additional pressure on households and businesses.
The sharp rise in the amount consumers had to pay for petrol resulted from these periodic price revisions, which have continued to affect transportation expenses and household budgets.
Reacting to the development, Atiku said Nigeria’s minimum wage is N70,000, an amount far below the earnings of workers in countries such as Saudi Arabia and Kuwait. He noted that, despite this substantial income gap, gasoline prices in Nigeria had risen to approximately N1,400 per liter. He questioned why Nigeria, with its considerable economic and petroleum resources, could not reduce gasoline prices to levels comparable to those in other oil-producing countries, even when residents of those countries earn significantly higher salaries.
He said, “Saudi Arabia sells petrol at about N778 per liter. Kuwait is around N872. Algeria is about N475. Angola is about N441. He added that even the United Arab Emirates, despite having average incomes far higher than Nigeria’s, sells petrol at a price below Nigeria’s roughly N1,400 per liter.
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