The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol in Lagos and Abuja. Motorists in Lagos will now buy petrol at ₦835 per litre, while the price in Abuja has risen to ₦839 per litre. The new rates took effect across NNPCL retail outlets on Wednesday.
The price adjustment comes amid ongoing changes in Nigeria’s downstream oil sector. Although NNPCL did not issue a detailed statement explaining the increase, industry watchers link the development to rising supply costs and recent market realities affecting fuel distribution nationwide.
This latest hike follows a similar move by the Dangote Refinery, which increased the price of its Premium Motor Spirit (PMS) on Tuesday. The back-to-back adjustments by major players have sparked fresh concerns among consumers already struggling with high transportation and living costs.
Many Nigerians fear the new petrol prices could lead to higher fares, increased cost of goods, and further pressure on household budgets. As stakeholders await clearer explanations and possible interventions, consumers are bracing for the ripple effects of the latest fuel price increase.
