Nigerian National Petroleum Company Limited (NNPC Ltd) outlets in Abuja have increased petrol prices to N1,030 per litre, marking a significant rise from previous rates.
This price adjustment, observed on Wednesday, coincides with recent changes in Nigeria’s petroleum market dynamics.
The price hike follows NNPC’s decision to end its exclusive purchase agreement with Dangote Refinery. This move opens the market, allowing other marketers to buy petrol directly from the refinery.
Our correspondent confirmed the new pricing at several NNPC Ltd stations across Abuja, including those in the Central area, Wuse, and Lugbe. Motorists and commuters expressed concern over the sudden increase.
In Akute, Ogun State, NNPC outlets were reportedly closed, with long queues forming as customers awaited updates on pricing and availability.
Previously, NNPC had stated it was buying petrol from Dangote Refinery at N898.78 per litre and selling to marketers at N765.99 per litre. The company cited the unsustainability of this arrangement as a reason for the recent changes.
This development is expected to impact fuel availability and pricing across Nigeria, as the market adjusts to the new supply chain dynamics.