From IBB to Tinubu: Actual Prices of Fuel Under 10 Nigerian Presidents Since 1978

• Fuel pricing has shaped Nigeria’s economic landscape, impacting citizens across decades
• From military to civilian administrations, each government navigated fluctuating petrol costs driven by policies and global market shifts
• This report examines the actual fuel prices under successive Nigerian presidents, from Shehu Shagari to Bola Tinubu

The price of fuel has been a defining aspect of Nigeria’s economy, affecting transportation, industries, and household expenses.

Since 1978, successive administrations have overseen fluctuations in fuel prices, often influenced by economic policies, global oil trends, and subsidy arrangements.

Here is a breakdown of fuel prices under each Nigerian president.

Fuel price under Obasanjo in 1978

In 1978, during Olusegun Obasanjo’s military rule, the price of petrol stood at ₦0.50 per litre, a modest rate compared to later years.

Fuel price under Shagari in 1982

Shehu Shagari’s civilian government maintained fuel at ₦0.20 per litre, offering relative affordability to consumers.

Fuel price under Muhammadu Buhari in 1984

When Major General Muhammadu Buhari took power in 1984, the price remained unchanged at ₦0.20, reflecting the controlled economic policies of the period.

Fuel price under IBB in 1986

Under General Ibrahim Babangida (IBB), fuel prices experienced their first major hike, reaching ₦0.395 per litre in 1986, a move that signalled unprecedented economic restructuring.

Fuel price under Abacha in 1994

General Sani Abacha continued with the price set by previous regimes, stabilising petrol costs at ₦11.00 per litre. His administration maintained this rate across multiple years.

Fuel price under Abdulsalami Abubakar in 1999

As Nigeria transitioned back to democratic governance, General Abdulsalami Abubakar approved a fuel price increase to ₦20.00 per litre, paving the way for further hikes in the civilian era.

Fuel price under Obasanjo in 2000

President Olusegun Obasanjo’s administration saw consistent increases, with petrol reaching ₦22.00 per litre in 2000 and gradually rising in subsequent years to ₦60.00 by 2005.

Under Yar'Adua in 2008

During President Umaru Yar’Adua’s tenure, fuel stood at ₦65.00 per litre, continuing the pattern of steady price adjustments witnessed in previous years.

Under Jonathan in 2012

Under President Goodluck Jonathan, Nigerians experienced a sharp rise in fuel costs, with prices jumping to ₦120.00 per litre in 2012 and further increasing to ₦145.00 by 2016.

See the link to the fuel prices here.

Fuel price under Buhari in 2016 and Tinubu in 2025

Muhammadu Buhari’s administration continued the trend of subsidy reforms, stabilising petrol at ₦145.00 per litre and under Tinubu at ₦800 and above —one of the highest recorded figures at the time.

NNPC reduces fuel price by N10

Legit.ng earlier reported that The Nigerian National Petroleum Company Limited (NNPCL) has slashed its petrol pump price to N870 per litre on Tuesday, May 27, 2025, for its Lagos retail stations.

This new price represents a N10 reduction from the previous pump price of N880 per litre, and once again, returns to NNPC stations as the place to get the cheapest fuel.

Ademola, a filling station attendant in Lagos who confirmed the new price to Legit.ng, said: "This morning, we received instructions to adjust the pump price from N880 to N870 per litre."

Source: Legit.ng