The Nigerian National Petroleum Company (NNPC) Limited has raised the pump price of petrol once again, with consumers in Lagos now paying N915 per litre and those in Abuja paying N945 per litre.
The new prices were confirmed on Monday at various NNPC retail stations across both cities.
At the NNPC outlets located on the Badagry Expressway and in Igando, Lagos, petrol was being sold at N915.
In Abuja’s Federal Housing area of Kubwa, the price had risen to N945 per litre.
The increase isn’t limited to NNPC stations.
Other marketers have followed suit. MRS, a company affiliated with the Dangote refinery, hiked its price to N925 in Lagos, up from N875.
TotalEnergies raised its price to N910 from N879, while Oluwafemi Arowolo Petroleum at Iba sold petrol for N920 per litre.
This development comes just two days after Dangote refinery raised the ex-depot price of petrol to N880 per litre.
Earlier this month, the refinery also announced plans to begin nationwide fuel distribution from August 15.
It recently acquired 4,000 new compressed natural gas (CNG)-powered tankers to strengthen its logistics network across Nigeria.
The move has drawn mixed reactions. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) warned that the refinery’s control over logistics could result in a monopolistic situation and lead to significant job losses in the downstream sector.
Similarly, the Major Energies Marketers Association of Nigeria (MEMAN) called for more clarity and transparency regarding Dangote’s nationwide distribution plans.
