NNPC Increases Petrol Price, Announces New Rates for Lagos, Abuja, and Other States
- Once again, the National Oil Company (NNPC) has raised the price of petrol across its retail outlets nationwide
- The new price seen in Lagos is a N5 increase from the previous rate, bringing more headache to Nigerians
- Dangote Refinery had promised to directly supply petrol to marketers, with a promise that it would reduce the petrol price
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian National Petroleum Company Limited (NNPCL) retail outlets have adjusted the pump price of Premium Motor Spirit (PMS), also known as petrol across the country.
Survey carried out by Legit.ng showed that in Lagos NNPC retail outlets were dispensing fuel to motorists at N870.
Source: Getty Images
This is a N5 increase from the previous price of N865 per litre.
While in Abuja the price was increased from N890 to N905 per litre.
With this adjustment, Nigerians are now paying more for petrol at NNPC retail outlets compared to Dangote Refinery’s partner stations.
NNPC petrol prices nationwide
A review of NNPC's current prices across Nigeria shows that the highest pump price is in Gombe, followed by Akwa Ibom, with N965 and N955 per litre, respectively.
This is followed closely by Abia and Niger States where motorists paid N945 per litre.
At the lower end, Lagos, Kwara, Ogun, Oyo, Ondo, Osun, and Rivers, where prices ranged from N870 to N885 per litre.
Here is the latest pump price for petrol at NNPC stations
- Lagos: N870
- Abuja: N905
- Abia: N945
- Adamawa: N910
- Akwa Ibom: N955
- Anambra: N890
- Bauchi: N915
- Bayelsa: N890
- Borno: N910
- Cross River: N910
- Delta: N890
- Ebonyi: N890
- Edo: N890
- Ekiti: N890
- Enugu: N890
- Gombe: N965
- Imo: N910
- Kaduna: N910
- Kano: N915
- Kwara: N875
- Nassarawa: N895
- Niger: N945
- Ogun: N875
- Ondo: N880
- Osun: N880
- Oyo: N875
- Plateau: N900
- Rivers: N885
- Sokoto: N912
- Taraba: N910
- Yobe: N915
- Zamfara: N912
Source: Facebook
Dangote direct distribution impact yet to be felt
Dangote recently announced the free distribution of petroleum products to its partner stations, promising to help crash prices.
Checks show that since the initiative kicked off on September 15, petrol prices have remained unchanged.
The refinery had promised that marketers who signed up as partners in Lagos, Ogun, Oyo, Ondo, Osun, Ekiti, Abuja, Kwara, Delta, Rivers, and Edo would be able to sell petrol at lower prices within the range of N841 to N851 per litre.
Checks show that Ardova, MRS, First Royal, among others, are dispensing petrol to customers at N865 per litre.
Another oil company begins direct fuel supply
Earlier, Legit.ng reported that Sixxco Oil Ltd, a Nigerian oil marketing company, has commenced direct receipt of petroleum products from the Dangote Refinery becoming the latest firm to lift products under the refinery’s Direct Delivery Scheme.
The first batch of trucks loaded with Premium Motor Spirit (PMS) and other fuels left the refinery
Sixxco Oil Ltd's Chief Executive Officer Hubert Ngoka said the deal allows the firm to lift PMS and other fuels directly from the refinery for distribution to its affiliate filling stations and customers across Rivers State.
Source: Legit.ng
