Transport Costs to Skyrocket in Abuja as Petrol Pump Price Hits N1,430

Taxi operators in the FCT are decrying ‘crippling’ operational costs as global oil benchmarks blast past the $110-per-barrel mark.

With the Middle East conflict showing no signs of cooling, Abuja’s transport sector is being pushed to the brink by an unrelenting energy shock that has sent local petrol prices to record highs this March.

Brent crude surged 3.26 percent to $112.2 per barrel while West Texas Intermediate climbed 2.80 percent to $98.23, as the Iran-US-Israel conflict entered its 21st day with no ceasefire in sight and the Dangote Refinery delivering its fourth price hike of the month.

Mr. Ajanaku John, chairman of the taxi drivers association on the Lugbe-Banex route, who spoke exclusively to Persecondnews correspondent, highlighted the immediate pressures.

“At Banex, we are currently buying fuel at N1,371 per litre, and there are growing fears of further hikes,” explained John, a taxi operator on the Lugbe-Banex route.

“Just two weeks ago, we adjusted the fare from N800 to N1,000 following the initial price change.”

Recalling a recent union meeting during the Ramadan holidays, John noted that some drivers had pushed for an even higher increase.

“Many argued for a N1,200 fare given the current economic climate,” he said.

“However, after considering the struggles of our passengers, we reached a consensus to keep the price at N1,000 for the time being. But if there is a further adjustment we will hike transport fare.”

“The streets are emptier,” John observed, pointing to a disturbing trend of commuters abandoning their jobs because transport fares now exceed their earnings.

“Things are getting worse; people are staying home because they can’t afford to work.”

This reality is driven by fuel prices hitting as high as N1,430 in some parts of Abuja.

While global tensions involving the US, Israel, and Iran keep crude prices volatile, a fresh price hike at the Dangote Refinery has added immediate local pressure.

For Emeka Ejiofor, who services the Gwarimpa and Jahi routes, the situation has moved beyond a struggle into a full-blown economic crisis.

“Transportation fares will increase every week with the way things are going. Before now I can buy N15,000 fuel and it will take me far and I can make profit. But now its very difficult.

“Now I spend that same amount to get just 10 litres and the transport fares are going up by just N200 and N100 around this axis,” he told Persecondnews.

The cabbie predicted ongoing adjustments, saying:”So this is why I said fares might be going up weekly, since last week the road as become scanty because they can’t cope with high Transportation costs due to low wages.”

John had already indicated that any fresh upward revision of prices at the petrol stations would force another immediate fare increase—just two weeks after the previous round.

Civil servant Bruno Ekpeyong, who spoke to our correspondent at the Federal Secretariat Complex, anticipated deeper troubles ahead.

“This hardship that is coming will be worse that we have seen, I hope the government is proactive enough and create a safety net for the poor masses who are worst hit.”

He lamented the authorities’ response strategy, saying: “But the reality is this administration is more reactive than proactive imagine announcing that subsidy is going without a social welfare scheme.”

Meanwhile in a significant move to halt hostilities, President Trump has hit the “pause” button on a major military offensive against Iran’s energy grid.

Attributing the move to successful negotiations, Trump revealed that recent talks were “productive” enough to warrant a five-day grace period.

While the strikes remain a threat, the President’s directive to the Department of Defense suggests a pivot toward a diplomatic settlement intended to end long-standing conflict in the region.

This announcement comes days after Trump had given Iran a 48-hour ultimatum to reopen the Strait of Hormuz, warning that failure to do so would trigger attacks on Iranian power facilities.

The Strait has been a major flashpoint affecting global oil and gas markets.
Trump’s statement marks his most conciliatory message since the conflict began, though it leaves many questions unanswered.

The exact scope of the talks has not been confirmed by Iranian officials. Reports from Iran’s Fars News Agency quoted an unnamed source, saying there has been “no direct or indirect contact with Trump” and suggested the US president “backed down” after threats to strike.

The postponement of strikes triggered immediate financial market reactions. Brent crude fell 13 percent to about $96 a barrel, while UK gas prices dropped from 159p a therm to 139p.

The FTSE 100 index rebounded by 0.5 percent after earlier losses, and UK 10-year government bond yields fell to 4.89 percent.

Global leaders have been closely monitoring the situation.

UK Prime Minister Keir Starmer reportedly spoke with Trump over the weekend, agreeing that reopening the Strait of Hormuz is “essential to resume global shipping.”