Imo APC Chairman’s Comments on Inflation and Petrol Prices
The party chairman argues that inflation is a global challenge and petrol is cheaper in Nigeria than in some countries, as critics question whether the comparison reflects Nigerians’ purchasing power.
By Avid Reporters
IMO STATE: The Imo APC chairman’s comments on inflation and petrol prices have sparked public debate after he argued that inflation is a worldwide challenge and that Nigerians pay less for petrol than consumers in other countries.
In remarks circulating online, the chairman of the All Progressives Congress (APC) in Imo State said:
“Inflation is everywhere in the world. The price we buy petrol here is about one quarter of what is bought in other countries. I’ve not seen any country that the price of petrol is cheaper than the one in Nigeria.”
The comments were reported by The Trumpet on Monday, October 12, 2026, amid wider public concern about the cost of living and rising fuel prices.
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Petrol Price Comparison Raises Questions
While Nigeria’s petrol prices have been lower than those of several countries, available international comparisons show that the country is not the cheapest market.
Data cited by Nairametrics from Global Petrol Prices placed Nigeria’s petrol price at approximately US$0.997 per litre in September 2026. Libya, Angola and Algeria recorded lower prices during the same period.
The comparison challenges the assertion that Nigeria has the cheapest petrol globally. However, pump prices differ between countries because of factors such as refining capacity, exchange rates, transportation costs, taxes and government subsidies.
The claim that Nigerian petrol costs about one-quarter of the price in other countries also requires clarification because prices vary widely across markets.
Cost of Living Remains Central to the Debate
The remarks have drawn criticism from social media users who argue that comparing petrol prices across countries does not, on its own, capture the economic pressure experienced by Nigerian households.
According to The Trumpet, some commenters questioned the affordability of fuel in relation to local wages and the cost of food, transportation and other essential goods.
The debate highlights the difference between the price of a commodity in international markets and the ability of households to afford it with their incomes.
Although inflation affects economies worldwide, its impact differs according to wage levels, household spending patterns and the cost of essential goods and services.
For Nigeria, where petrol prices affect transport fares, distribution costs and many small businesses, changes at the pump can have consequences beyond motorists’ direct fuel expenses.
Nigeria’s Oil-Producing Status Adds to Public Scrutiny
Nigeria’s position as a crude oil producer has also featured in public discussions about domestic petrol prices.
However, crude oil production alone does not guarantee cheaper petrol. The final pump price is influenced by the cost of crude, refining, product supply, distribution, foreign exchange and government pricing policies.
The Federal Government has recently considered measures to address fuel-price volatility and the wider cost-of-living pressure. Reuters reported on October 8 that the government proposed a petrol price cap of about ₦1,350 per litre, with refiners and importers expected to absorb some temporary price increases under the proposal.
The debate surrounding the Imo APC chairman’s remarks therefore raises broader questions about how fuel prices should be assessed: not only against prices abroad, but also in relation to domestic incomes and household purchasing power.
Avid Reporters
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