NNPC Raises Petrol Prices by N53 Above Dangote's Rates Amid Crude Oil Surge

The Nigerian National Petroleum Corporation (NNPC) has implemented a petrol pump price increase of N53 above Dangote's rates, with prices hitting N892 per liter at NNPC filling stations in Abuja. Efforts to reach NNPC spokesperson Andi Odeh for insight into the price hike were unsuccessful.

Developments at a fuel station in Ikotun, Lagos, revealed adjustments to pump prices following instructions received on January 30, 2026. Other fuel stations like Ardova, Mr.

First Royal, and more were selling petrol at rates ranging from N835 to N840 per liter. Chinedu Ukadike of the Independent Petroleum Marketers Association explained that the surge in petrol prices is driven by increases in crude oil prices and exchange rate movements.

The ongoing rise in crude oil prices, particularly in regions distant from fuel depots, is influencing domestic petroleum prices. Ukadike suggested the provision of special crude oil arrangements to stabilize pump prices and shield consumers from global price hikes.

Additionally, the article mentions the progress of the $20 billion Dangote Petroleum Refinery in Lekki, which is set to become one of the largest refineries globally.