The Nigerian National Petroleum Company has increased petrol prices to N915 in Lagos and N945 in Abuja respectively.
The Nigerian National Petroleum Company (NNPC) Limited has raised the pump price of petrol to N915 per litre in Lagos and N945 per litre in Abuja.
This marks a N45 increase from the previous price of N870 in Lagos and a N35 rise from the earlier N910 per litre in Abuja.
TheCable observed on Monday that the price was adjusted at several NNPC filling stations across Lagos. At Fin Niger station on the Badagry Expressway and another outlet in Igando, the price was updated to N915 per litre.
In Abuja, the NNPC retail station at the Federal Housing area in Kubwa sold petrol at N945 per litre, up from the previous N910 rate.
Other marketers have also raised their pump prices. MRS filling stations in Lagos, linked to the Dangote refinery, increased the price to N925 per litre from N875. TotalEnergies outlets adjusted their price to N910 per litre, up from N879. Oluwafemi Arowolo Petroleum, located in Iba, sold the product at N920 per litre.
These increases follow the Dangote refinery’s recent move to raise the ex-depot price of petrol to N880 per litre. On June 15, the refinery announced a nationwide logistics plan for petrol and diesel distribution, and the acquisition of 4,000 compressed natural gas (CNG)-powered tankers to boost fuel supply.
Meanwhile, the Major Energies Marketers Association of Nigeria (MEMAN) has requested further clarity on the refinery’s logistics proposal.
According to analysts, Dangote’s strategy may offer long-term benefits for consumers but could bring fresh challenges to Nigeria’s downstream oil sector.
