NNPCL Raises Petrol Price to ₦1,345 in Abuja

The Nigerian National Petroleum Company Limited (NNPCL) has raised the pump price of Premium Motor Spirit (petrol) in Abuja to ₦1,345 per litre, marking a ₦75 increase from the previous price of ₦1,270 per litre. This adjustment was confirmed by a staff member at an NNPCL station on Monday.

The price hike aligns with recent increases by independent petroleum marketers, who raised their prices by ₦20 to ₦80 per litre over the weekend. The price adjustments follow an upward revision in the ex-depot price of petrol by Dangote Refinery, which increased its gantry price by ₦65 to ₦1,265 per litre.

The situation is compounded by concerns regarding rising petrol imports, which accounted for 43.3 percent of total supply in July, as reported by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The Dangote refinery has indicated it may limit petrol sales to importers and marketers due to the surge in imported petrol.