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The Nigerian National Petroleum Company Limited has increased the pump price of premium motor spirit across its retail outlets. According to reports, NNPCL retail outlets in Abuja have adjusted their fuel pump price to N955 per litre from N890, representing a N65 increase.
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The price hike has been implemented at NNPCL retail outlets along Kubwa Motorway, Wuse, and other parts of Abuja, as well as in Kogi and Nasarawa. This development follows an upward review of the ex-depot petrol price by Dangote Refinery to ₦858 per litre, up from ₦820.
As a result, independent petroleum product marketers and filling station owners in Abuja have also increased petrol pump prices to between N950 and N971 per litre. The recent price adjustments reflect the changing dynamics in the petroleum products market, with the increased cost likely to impact fuel prices nationwide.
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Jonathan Nwokpor
