NNPCL Raises Petrol Price to N1,345 in Abuja

The Nigerian National Petroleum Company Limited (NNPCL) has raised the pump price of Premium Motor Spirit (petrol) from N1,270 to N1,345 per litre in parts of Abuja, representing a N75 increase. A market survey revealed that filling stations along the Kurudu-Jikwoyi Expressway and other areas in the Federal Capital Territory have adjusted their prices accordingly.

Some independent marketers have also raised their prices, with petrol sold at Optima Filling Station in Idu for N1,345 per litre, while Ay Shafa Filling Station and Eterna Filling Station in Kubwa offered petrol at N1,320 per litre. This price hike follows a previous increase of N20 per litre earlier in August.

The adjustment comes shortly after Dangote Petroleum Refinery raised its gantry price by N65, which is expected to exert further pressure on retail prices. Concerns are growing over the rising volume of petrol imports, which reached 43.3 percent in July, potentially undermining local refining investments.