Petrol Prices Surge Again in Nigeria as NNPC Raises Rates in Lagos and Abuja
Nigerians, particularly commuters and motorists, are facing renewed challenges as petrol prices at Nigerian National Petroleum Corporation Limited (NNPCL) filling stations have increased once more in Lagos and Abuja. This marks the third price hike in less than two months, with prices rising from N998 to N1,025 per litre in Lagos and from N1,030 to N1,050 per litre in Abuja.
In Lagos, NNPC retail outlets in areas such as Ikeja, Egbeda, Cement, and Dopemu are now selling petrol for N1,025 per litre, while filling stations in Abuja, including locations in Wuse, Kuje, and Airport Road, are dispensing petrol at N1,050 per litre.
This latest increase comes just over a month after NNPC began lifting petrol from the Dangote Petroleum Refinery, following extensive price negotiations. On September 15, NNPC had announced that petrol was sourced from the Dangote refinery at N898 per litre, although the refinery’s management later refuted this claim, labeling it as misleading without providing the actual price.
In September, NNPC revealed that it was purchasing petrol from the Dangote Refinery at N898.78 per litre but selling it to marketers at N765.99 per litre, effectively absorbing a subsidy of nearly N133 per litre. This arrangement, however, was deemed unsustainable by the corporation.
During the latter half of September, NNPC lifted approximately 103 million liters of petrol from the Dangote Refinery, utilizing 2,207 out of 3,621 trucks dispatched for this purpose. The refinery had initially aimed to lift 400 million liters at a daily rate of 25 million liters.
As fuel queues persist across major Nigerian cities, the gradual increase in prices follows the government’s removal of fuel subsidies. Although some queues have eased since the last price increase, they remain prevalent in parts of Lagos, Abuja, Ogun, and other states. Reports have indicated that petrol prices in certain northern states have even exceeded N1,000 per litre.
The government continues to face difficulties in effectively regulating petrol distribution to marketers and filling stations, compounding the challenges for consumers amid rising costs.Nigerians, particularly commuters and motorists, are facing renewed challenges as petrol prices at Nigerian National Petroleum Corporation Limited (NNPCL) filling stations have increased once more in Lagos and Abuja. This marks the third price hike in less than two months, with prices rising from N998 to N1,025 per litre in Lagos and from N1,030 to N1,050 per litre in Abuja.
In Lagos, NNPC retail outlets in areas such as Ikeja, Egbeda, Cement, and Dopemu are now selling petrol for N1,025 per litre, while filling stations in Abuja, including locations in Wuse, Kuje, and Airport Road, are dispensing petrol at N1,050 per litre.
This latest increase comes just over a month after NNPC began lifting petrol from the Dangote Petroleum Refinery, following extensive price negotiations. On September 15, NNPC had announced that petrol was sourced from the Dangote refinery at N898 per litre, although the refinery’s management later refuted this claim, labeling it as misleading without providing the actual price.
In September, NNPC revealed that it was purchasing petrol from the Dangote Refinery at N898.78 per litre but selling it to marketers at N765.99 per litre, effectively absorbing a subsidy of nearly N133 per litre. This arrangement, however, was deemed unsustainable by the corporation.
During the latter half of September, NNPC lifted approximately 103 million liters of petrol from the Dangote Refinery, utilizing 2,207 out of 3,621 trucks dispatched for this purpose. The refinery had initially aimed to lift 400 million liters at a daily rate of 25 million liters.
As fuel queues persist across major Nigerian cities, the gradual increase in prices follows the government’s removal of fuel subsidies. Although some queues have eased since the last price increase, they remain prevalent in parts of Lagos, Abuja, Ogun, and other states. Reports have indicated that petrol prices in certain northern states have even exceeded N1,000 per litre.
The government continues to face difficulties in effectively regulating petrol distribution to marketers and filling stations, compounding the challenges for consumers amid rising costs.
