The Nigerian National Petroleum Company Limited has again raised the price of premium motor spirit commonly known as petrol, at its retail stations nationwide.
TheCable, on Wednesday, reported that the price per litre had increased to N1,030 in Lagos, specifically at NNPC stations on Ago Palace Way in Okota and the Second Rainbow area along the Apapa Expressway.
This marked a jump from the previous rate of N855 per litre, which was set in September.
In Abuja, the price reached N1,003 per litre at an NNPC station in Wuse Zone 4.
Similarly, private filling stations have begun to follow suit, with the Mobil outlet at College Road, Ogba, aligning its pump price with the new NNPC figures.
This price hike comes in the wake of the NNPC’s decision to begin petrol distribution from the Dangote Petroleum Refinery’s gantry. This followed an extended period of negotiation over pricing.
Back on September 15, NNPC had stated that petrol was being sourced from Dangote refinery at N898 per litre.
However, the Dangote refinery quickly refuted this, calling the claim “both misleading and mischievous.”
Just a day later, the NNPC revealed its estimated pump prices, calculated based on Dangote refinery’s prices for petroleum products.
According to the NNPC’s estimates, petrol was set to sell at N950 per litre in Lagos and N999 in other areas.
These developments highlight the ongoing volatility in petrol pricing in Nigeria amidst broader shifts in the nation’s energy landscape.
