Breaking: NNPCL Cites Supply Issues Amid Rising Fuel Costs Across Nigeria

Breaking: NNPCL Cites Supply Issues Amid Rising Fuel Costs Across Nigeria

The Nigerian National Petroleum Company Limited (NNPCL) has increased fuel prices, sparking widespread frustration...READ MORE…

across the country. Here’s the latest on petrol scarcity, price hikes, and public reactions.

October Fuel Price Soars by 87.88%
According to the National Bureau of Statistics (NBS), the average petrol price rose to ₦1,184.83 per liter in October 2024, up from ₦630.63 in October 2023—a staggering year-on-year increase.

State-by-State Analysis of Petrol Prices
Ebonyi recorded the highest average petrol price at ₦1,292.86, while Delta State offered some relief with the lowest average at ₦1,050. Regionally, the South-East Zone reported the highest prices, with the North-Central Zone having the lowest.

Port Harcourt Refinery Faces Unforeseen Delays
The NNPCL attributes delays in completing the Port Harcourt Refinery revamp to unforeseen challenges. Despite setbacks, officials assure the issues have been resolved, and commissioning of key units is underway.

Dangote Refinery Seeks $2 Billion for Crude Supply
The Dangote Refinery, with a maximum capacity of 650,000 barrels per day, seeks funding from commercial banks and oil traders to secure crude supply and increase production. The refinery has already sourced crude from the U.S., Brazil, Libya, and Angola to meet operational needs.

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