NNPCL Sells Petrol for ₦1,025 Per Litre in Lagos

Just three weeks after raising the price of petrol, the Nigerian National Petroleum Company Limited (NNPCL) adjusted its pump price in Lagos on Tuesday from ₦998 to ₦1,025 per litre.....Read Full Article>>

While some NNPCL outlets are selling the fuel for ₦1,025, independent marketers are charging as much as ₦1,100 per litre.

This latest increase follows the hike on October 9, 2024, when the price rose from ₦855 to ₦998. Prior to that, on September 2, 2024, the retail company increased the price from ₦568 to ₦855, leading to public outcry.

Since the presidential announcement in May 2023 that “subsidy is gone,” the NNPCL has gradually raised petrol prices from ₦184 in Lagos to the current ₦1,025.

Although the NNPCL has not officially commented on this latest price increase, it suggested the possibility of a rise when it started loading petrol from the Dangote Refinery in mid-September.

At that time, the NNPCL indicated it was acquiring petrol at ₦898 per litre from the private refinery and planned to sell it for ₦950 per litre in Lagos and ₦1,019 in Borno.