The Nigerian National Petroleum Company Limited (NNPCL) has once again increased the price of Premium Motor Spirit (PMS), commonly known as petrol, to N1,030 per litre at its outlets. This change was observed at several NNPCL stations in Abuja on Wednesday.
This development follows NNPCL’s decision to end its exclusive purchase agreement with Dangote Refinery. Previously, NNPCL was the sole buyer of fuel from the refinery, but the termination of this arrangement now allows independent marketers to negotiate prices directly with Dangote Refinery.
In the Federal Capital Territory (FCT), the fuel price has risen from N897 per litre, while in Lagos, where petrol was previously sold at N885 per litre, it is now priced at N998. The price hike has led to long queues at filling stations across both cities as consumers rush to fill their tanks.
The increase is the latest in a series of price adjustments, reflecting the shifting dynamics of Nigeria’s fuel supply chain.
