Economic activities across several markets in Nigeria have slowed following a fresh increase in fuel prices by the Dangote Group refinery, pushing petrol to ₦1,175 per litre and diesel to ₦1,620 per litre.

According to reports by Punch Newspapers and The Guardian Nigeria, the new pricing has triggered concerns among traders and transport operators who fear the development could further increase the cost of goods and services nationwide.

Market leaders in major commercial hubs said the sudden hike has already started affecting business activities, with many traders complaining that transportation costs for moving goods have jumped significantly.

Industry analysts say the adjustment from the Dangote Petroleum Refinery could ripple through the entire supply chain, as fuel remains a critical driver of Nigeria’s transport and logistics sector.

Speaking to reporters, several marketers noted that the price change reflects global crude oil fluctuations and operational costs, but warned that consumers may ultimately bear the biggest burden.

Meanwhile, transport unions say the increase may soon lead to higher fares for commuters if the situation persists. Some operators told journalists that running vehicles on diesel and petrol at the new rates is becoming increasingly difficult.

Economic observers quoted by BusinessDay Nigeria say the latest development could add pressure on inflation, especially as Nigeria continues to grapple with rising living costs and unstable energy prices.

For now, many Nigerians say they are bracing for another wave of price increases in food, transportation, and other essential commodities as the fuel price adjustment begins to take effect across the country.