NNPC Retail Implements Temporary Petrol Price Relief Amid Rising Costs

As of October 9, 2026, petrol depot prices in Nigeria have surged to ₦1,370 per litre, reflecting widespread increases across major locations including Lagos, Warri, and Calabar. The price hike occurred between October 5 and October 9, with diesel also seeing a rise, closing at ₦2,000 per litre at Matrix's Warri depot.

The increases are wholesale depot quotations, not the retail prices at filling stations. The Federal Government announced a 30-day relief plan where NNPC Retail will sell petrol at cost by forgoing its retail profit margin.

However, this does not constitute a nationwide price freeze for all marketers. In Lagos, Nipco's price rose by ₦27 to ₦1,350, while Matrix in Calabar saw the largest increase of ₦67 to ₦1,370.

Diesel prices also climbed, with Matrix's Warri depot increasing by ₦180. The rising depot prices suggest potential further pressure on retail prices for consumers.