NNPCL Raises Petrol Price To ₦945 Per Litre

The Nigerian National Petroleum Company Limited (NNPCL) has once again increased the pump price of Premium Motor Spirit (PMS) at its retail outlets nationwide, marking the second price hike within a span of four days.

Reports indicate that petrol at NNPCL stations located in Kubwa, Lugbe Expressway, Wuse Zone 4, and Wuse Zone 5 in Abuja is now being sold at ₦945 per litre. Similar pricing was also observed at outlets in parts of Nasarawa and Kogi states.

Confirming the development, Abubakar Maigandi, National Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), disclosed that the new price took effect on Friday morning. He, however, was unable to specify the rationale behind the latest increase.

This upward adjustment follows a brief price reduction by NNPCL two days prior, when the pump price was lowered to ₦900 per litre from ₦955 recorded on Monday, August 4.

Industry insiders attribute the frequent price fluctuations to Dangote Refinery’s recent decision to raise its ex-depot price from ₦820 to ₦850 per litre.

As of Friday evening, other major filling stations such as MRS and Bovas were selling petrol at ₦885 and ₦895 per litre respectively, while Optima, Ranoil, AA Rano, and NIPCO outlets offered prices ranging between ₦950 and ₦955 per litre.