The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (petrol) to ₦955 per litre at its retail stations in Abuja, up from the previous price of ₦890.
This ₦65 hike was observed on Monday at major NNPCL stations along Kubwa Expressway, Wuse, and other locations across the capital.
NNPCL Widespread implementation
The price increase is not limited to Abuja. Similar adjustments have been made at filling stations in Kogi and Nasarawa States, reflecting a broader pricing shift.
Market-driven changes
This development follows the weekend decision by independent marketers to raise pump prices to between ₦950 and ₦971 per litre. The hike came after the Dangote Refinery reportedly increased its ex-depot price (the price filling stations pay at source) to ₦858 per litre, up from ₦820.
The rising prices are expected to further strain Nigerian consumers already grappling with high living costs and inflation. The NNPCL has yet to issue an official statement on the reason for the increase, but stakeholders point to exchange rate volatility, distribution challenges, and upstream cost pressures as contributing factors.
