NNPC Raises Petrol Prices in Abuja and Lagos After Dangote Refinery Adjustments
The Nigerian National Petroleum Corporation (NNPC) has increased petrol prices at its retail outlets in Abuja and Lagos, with petrol now selling at N835 per liter in Lagos and N839 per liter in Abuja. This adjustment follows Dangote Petroleum Refinery's decision to raise its pump prices.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) emphasized the need to sustain a competitive market and gradually move towards energy security. Adeola Yusuf, an energy policy analyst, attributed the price hikes to global crude oil price rises and geopolitical tensions.
Dangote Refinery's price adjustments have had a ripple effect across the downstream sector, prompting market reviews by entities like NNPC. MR Oil Nigeria PLC, a major partner of Dangote Refinery, will now sell petrol at N839 per liter nationwide.
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