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From Fuel Price Increase On May 29 2023 To Passport Fees Increase, Nigerians Struggle To Survive Under Tinubu, See Various Hikes In Prices Witnessed In 15months

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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 administration.

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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 Premium 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.

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3.⁠ ⁠Passport fee hike

The Federal Government approved an upward review of passport fees, effective from September 1, 2024. According to a statement by the Nigeria Immigration Service (NIS), the cost of a 32-page passport 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 passport.

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.

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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.

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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.

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BREAKING: President Faye of Senegal Takes Helm of ECOWAS at Regional Summit

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By Gloria Ikibah

Senegalese President, Bassirou Diomaye Faye, has been elected as the new Chairman of the ECOWAS Authority of Heads of State and Government, taking over the leadership of the regional bloc at a crucial period for West Africa.

His election was announced during the 69th Ordinary Session of the ECOWAS Authority of Heads of State and Government, held in Lungi, Sierra Leone.

Faye succeeds the outgoing chairman as ECOWAS continues to grapple with regional security challenges, political transitions, economic integration and efforts to strengthen cooperation among member states.

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His emergence is expected to usher in a new phase of leadership with a focus on promoting peace, democratic governance, economic development and regional unity across West Africa.

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Nigeria Pushes for Stronger ECOWAS, Condemns Afrophobia, Calls for Deeper Regional Unity

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By Gloria Ikibah

Vice President Kashim Shettima has reaffirmed Nigeria’s commitment to a more united, secure and economically integrated West Africa, urging ECOWAS member states to embrace good governance, strengthen democratic institutions and accelerate implementation of the ECOWAS Compact for the Future of Regional Integration.

Speaking on behalf of President Bola Ahmed Tinubu at the 69th Ordinary Session of the ECOWAS Authority of Heads of State and Government and the Summit of the Future in Lungi, Sierra Leone, Shettima said Nigeria remained committed to providing principled leadership in advancing peace, prosperity and regional cooperation.

He began by expressing appreciation to the Government and people of Sierra Leone for hosting the summit and congratulated President Julius Maada Bio on the inauguration of the Julius Maada Bio International Conference Centre.

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The Vice President commended President Bio’s stewardship of ECOWAS over the past year, describing his leadership as instrumental in sustaining dialogue and regional solidarity amid political, economic and security challenges.

He also praised the ECOWAS Commission for developing the ECOWAS Compact for the Future of Regional Integration, describing it as a forward-looking roadmap for the region.

He said: “Nigeria reaffirms its unwavering commitment to the Compact, which represents a significant milestone in our regional integration journey. It reflects the collective resolve of Member States to renew the ideals of ECOWAS, strengthen regional solidarity, and build a more resilient, prosperous, peaceful, and people-centred Community capable of meeting the aspirations of its over 400 million citizens.”

According to Shettima, the Compact aligns with ECOWAS Vision 2050 and extends the bloc’s collective aspirations towards 2075 by shifting the focus from an “ECOWAS of States” to an “ECOWAS of the People.”

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He reaffirmed Nigeria’s readiness to work closely with other member states to ensure the successful implementation of the Compact’s strategic pillars.

“As the largest economy and one of the key founding members of our Regional Economic Community, Nigeria remains steadfast in its historic responsibility to continue the promotion of regional unity, peace, economic integration, and democratic governance.”
On economic integration, Shettima stressed the need to expand regional trade, industrialisation and infrastructure while supporting the gradual implementation of the ECO single currency.

“Nigeria remains committed to initiatives that remove trade barriers, improve cross-border infrastructure, facilitate the free movement of persons, goods, and services, and create an enabling environment for businesses, entrepreneurs, and investors to thrive across West Africa”, he said.

Addressing governance and security, the Vice President said sustainable development could only flourish in an atmosphere of peace and stability.

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He reaffirmed Nigeria’s support for constitutional governance, the rule of law and democratic principles.

“Beyond adventurism, the most effective tool against unconstitutional changes of government and mass protests that are capable of undermining good order is for us to enthrone good governance that delivers more tangible benefits to our citizens. We must also avoid the temptation to tamper with constitutional term limits or exploit constitutional processes”, he noted.

He further reiterated Nigeria’s commitment to establishing the ECOWAS Counter Terrorism Force and strengthening the regional Standby Force.

“Nigeria remains committed to the setting up of the Counter Terrorism Force, and strengthening of the ECOWAS Standby Force in order to enhance counter-terrorism cooperation, intelligence sharing, joint security operations, and preventive diplomacy to safeguard peace and stability across our region”, he added.

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The Vice President also highlighted the importance of science, technology and innovation in driving regional development.

He welcomed plans to establish a Digital Single Market and regional frameworks for artificial intelligence, cybersecurity and digital infrastructure.

On youth and women, Shettima described them as West Africa’s greatest asset and called for greater investment in education, entrepreneurship and leadership opportunities.

“Nigeria remains dedicated to advancing gender equality, expanding opportunities for women in leadership and decision-making, investing in education and skills development, supporting youth entrepreneurship, and ensuring that young people are active participants in shaping the future of West Africa”, Shettima said.

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Turning to institutional reforms, he stressed the importance of accountability, transparency and sustainable financing in restoring public confidence in ECOWAS.

He also called for stronger regional cooperation in response to changing global geopolitical realities.

On recent tensions within the region, Shettima reiterated Nigeria’s commitment to dialogue and constructive engagement, particularly with the Alliance of Sahel States (AES).

“Nigeria remains firmly committed to dialogue, solidarity and constructive engagement, especially with the AES, as the foundation for preserving the unity, relevance, and future of ECOWAS”, he said.

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The Vice President used the occasion to strongly condemn recent attacks on African nationals in South Africa.

Shettima also reminded South Africa of Nigeria’s role during the anti-apartheid struggle.

He disclosed that Nigeria had already evacuated 1,490 of its citizens from South Africa in seven batches and remained prepared to continue diplomatic engagement on the matter.

“Nigeria condemns in strong terms the recent Afrophobic attack on its citizens and other fellow Africans in the Republic of South Africa.

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“South Africa should be reminded that the freedom the country currently enjoys is due to the liberation efforts of African countries such as Nigeria”, he stated.

Backing Ghana’s earlier proposal, he urged ECOWAS to table the issue before the African Union.

“ECOWAS should present this matter before the next meeting of the Authority of the African Union to send a clear message that this type of behaviour is unacceptable.”

Vice President Shettima therefore urged governments, regional institutions, civil society, development partners, the private sector, women and young people to support the implementation of the ECOWAS Compact.

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“The Compact provides a roadmap to strengthen regional unity, restore public trust, and build a more resilient and people-centred ECOWAS capable of effectively addressing current and future challenges.

“Nigeria will continue to provide principled leadership and work with all Member States to advance our shared vision of a peaceful, integrated, prosperous, secure and globally respected West Africa, in line with our aspirations”, Shettima said.

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Peter Obi gives reason why he picked Kwankwaso as running mate

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Presidential candidate of the Nigeria Democratic Congress, Peter Obi, has disclosed reason behind his decision to pick the leader of Kwankwassiyya Movement, Rabiu Kwankwaso, as his running mate.

In an interview with Sun, Obi said he decided to settle for the former governor of Kano State because “Kwankwaso has the philosophy of pulling people out of poverty”.

Obi said himself and Kwankwaso have similar philosophy on reviving the country’s economy to better the lives of citizens.

“I have the same philosophy. Kwankwaso believes in education. You cannot change society without education.

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“If you look at my X, formerly Twitter, I made it clear that I will emphasise on education. Education is going to change society.

“Nigeria must be seen to form its innermost human capital, which we need to develop. Kwankwaso believes in this. I do. We have synergy.”

Obi also dismissed speculation suggesting that there is disagreement between him and Kwankwaso, stating that they remain united in strategizing ahead of the January 2027 elections.

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