President Bola Ahmed Tinubu has defended the rise in fuel prices in Nigeria, saying that although they are biting hard on citizens, Nigeria remains "better off" than Kenya and other African nations.

Speaking during a presidential visit to Bayelsa State, Tinubu acknowledged the pressure that high fuel prices have placed on households and businesses.

He, however, urged citizens to remain patient as the government works to stabilise the economy.

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“It is very important that we are transparent and honest with our people. Yes, I hear you from various angles of the economy,” Tinubu said while addressing residents.

The President admitted that the fuel price situation has been difficult, noting that the rising cost of petrol continues to affect livelihoods across the country.

“The fuel price is biting hard, but look around. Let us thank God together that you are better off. Listen to them in Kenya and other African countries, what they are going through,” he said.

Tinubu emphasised that his administration would not reverse economic reforms, stating that the government is focused on long-term solutions to stabilise the economy and improve living standards.

“We will not look back,” he said, adding that the government would continue to find ways to cushion vulnerable groups affected by the rising cost of living.

The President reiterated that while the reforms may be painful in the short term, they are necessary to place Nigeria’s economy on a sustainable path and reduce dependence on costly fuel subsidies.

He acknowledged that many Nigerians are facing financial strain due to increased fuel prices, transport costs, and general economic pressure, but insisted that the government remains committed to easing the burden on low-income households through targeted interventions.

Tinubu also attributed part of the economic challenges to global factors beyond Nigeria’s control, including international conflicts and disruptions in global supply chains that have contributed to rising fuel and commodity prices.

According to the President, global economic instability has affected many African countries, making it necessary for governments to adopt tough reforms to protect their economies and ensure long-term stability.

His remarks come amid a sharp surge of fuel prices across the world, following tensions linked to the Iran-US/Israel war, with both gasoline and diesel recording significant increases in multiple countries.

Data, between February 23 and March 23, 2026, shows the Philippines experienced the steepest rise, with gasoline prices jumping by 54.2 per cent and diesel soaring by 81.6 per cent.

Nigeria followed, recording increases of 48.7 per cent for gasoline and 65.5 per cent for diesel, highlighting the widespread impact on both emerging and developed markets.