AGS NEWS – Nigerian workers are expressing concerns over rising transport costs following a recent fuel price hike.

Leaders of the Association of Senior Civil Servants of Nigeria and the Association of Senior Staff of Banks, Insurance, and Financial Institutions said the sharp increase in petrol prices is straining household budgets and intensifying financial pressure on workers.

Since President Bola Tinubu ended the petrol subsidy on May 29, 2023, fuel prices have surged from N165 to between N865 and N1,300 per litre by September 2024.

This has affected the value of the N70,000 minimum wage, and workers are calling for measures to ease the burden.

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Many workers now spend up to 50% of their monthly income on transportation, according to a report from SBM Intelligence.

The rising costs have prompted calls from labor unions for government intervention, such as subsidies or wage increases. Some workers are considering resigning due to the strain on their finances.

For example, accountant Bidemi Ajayi said over half of his salary goes towards transport, while banker Adelakun Adelabu noted her daily commuting costs have doubled.

Civil servant Opeyemi Adeola added that transport costs consume nearly 80% of his salary, leaving little to save despite the new minimum wage.