NNPCL Raises Petrol Prices in Lagos and Abuja, Following Dangote Refinery's Lead

The Nigerian National Petroleum Corporation Limited (NNPCL) has raised petrol prices in Lagos and Abuja, with premium motor spirit (PMS) now priced at N835 per liter in Lagos and N839 per liter in Abuja. This move comes after Dangote Refinery adjusted its prices just 24 hours earlier.

The adjustments are attributed to the need to align with market realities, following a temporary price support period during the festive season. The recent price hikes have led to long queues at fuel stations as motorists rush to fill their tanks.

Dangote Refinery had earlier increased its pump price to N799 per liter, subsequently pushing the retail price at partner stations to N839 per liter. This increase follows a previous intervention in December when prices were temporarily reduced to N739 per liter for the holiday season.