NNPC Releases New Petrol Prices for Lagos, Abuja, Ogun, Abia, Other States
- The NNPC raised petrol prices at its retail outlets, with Lagos and Abuja among the worst affected
- The price jump followed three separate gantry price increases by Dangote Petroleum Refinery within a single nine-day window
- Depot prices in Lagos surged by nearly N70 per litre in just one trading session, pointing to deeper cost pressures in Nigeria's fuel supply chain
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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) has raised the pump price of petrol at its retail outlets nationwide, with motorists in Lagos now paying N1,299 per litre and those in parts of Abuja paying as much as N1,345 per litre.
The price adjustment follows a sharp rise in wholesale costs driven by three consecutive gantry price increases from the Dangote Petroleum Refinery within nine days.
Source: Getty Images
What triggered the latest price increase
Dangote Refinery raised its Premium Motor Spirit gantry price from N1,165 to N1,185 per litre on August 20, then again to N1,200 per litre on August 25.
A third increase on August 29 pushed the gantry price further to N1,265 per litre, bringing the total rise to N100 per litre across that stretch.
Checks by Petroleumprice.ng on Monday showed NNPCL dispensing petrol at N1,299 per litre in Ikeja, Lagos.
At the depot level, Sahara and Ascon depots were selling at N1,269 per litre, while Integrated and African Terminal depots were selling at N1,270 per litre.
Those figures compare with N1,200 to N1,201 per litre recorded at the same depots as of Friday, August 28, meaning depot prices climbed by roughly N69 to N70 per litre within a single trading session.
Price differences across locations reflect Nigeria's deregulated downstream petroleum market, where retail costs can vary based on supply logistics and proximity to depots.
Brent crude oil prices are also adding to the strain, trading at around $90.50 per barrel amid concerns over global supply following fresh US-Iran military strikes and shipping risks through the Strait of Hormuz.
Elevated crude prices raise the replacement cost of petroleum products and could push domestic prices higher still.
Source: Getty Images
State-by-state NNPCL pump prices
Below are the latest petrol prices at NNPCL stations across Nigeria's states:
- Abia – N1,295
- Abuja – N1,335
- Adamawa – N1,280
- Akwa Ibom – N1,310
- Anambra – N1,306
- Bauchi – N1,365
- Bayelsa – N1,308
- Benue – N1,305
- Borno – N1,308
- Delta – N1,305
- Ebonyi – N1,355
- Edo – N1,310
- Ekiti – N1,350
- Enugu – N1,235
- Gombe – N1,345
- Imo – N1,300
- Jigawa – N1,340
- Kaduna – N1,365
- Kano – N1,360
- Katsina – N1,377
- Kogi – N1,360
- Kwara – N1,300
- Lagos – N1,299
- Nasarawa – N1,340
- Niger – N1,364
- Ogun – N1,305
- Ondo – N1,320
- Osun – N1,300
- Oyo – N1,295
- Plateau – N1,301
- Rivers – N1,300
- Sokoto – N1,378
- Taraba – N1,300
- Yobe – N1,395
- Zamfara – N1,370
Marketers fight back as Dangote files lawsuit
Earlier, Legit.ng reported that marketers said they are ready to oppose a suit filed by the Dangote Petroleum Refinery to stop the issuance of new petrol import licences in the country.
The legal battle followed recent approvals granted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to six companies to import about 720,000 metric tonnes of Premium Motor Spirit (petrol) to support domestic supply.
Marketers approved to import PMS are: NIPCO, AA Rano, Matrix Energy, Shafa, Pinnacle Oil, and Bono Energy.
Source: Legit.ng
