NNPC Reverses, Increases Petrol Price Again Across Filling Stations

The Nigerian National Petroleum Company Limited (NNPCL) has once again increased the pump price of petrol across its filling stations. As of Friday, August 8, 2025, the price at NNPC retail outlets in Lagos was raised to N895 per litre, reflecting a N20 increase from the previously announced price of N875 per litre.

This marks the third day of price adjustments, with other NNPCL outlets selling petrol at varying rates, such as N945 to N950 in Delta, N930 in Oyo, N925 in Rivers, and N955 in Sokoto. The fluctuation in pump prices is attributed to global oil price movements, with Dumebi Oluwole, a senior manager at Financial Derivatives Company, explaining that the drop in global oil prices has led to a decline in the cost of purchasing petrol domestically.

The NNPC had previously ruled out the sale of the Port Harcourt Refining Company, but a decision to sell was announced by Bash.