NNPC, Other Filling Stations’ New Petrol Price Puts Fresh Political Battle Ahead of 2027
- NNPC's latest pump prices range from N1,385 per litre in Lagos to N1,456 in Yobe, with several private stations
- Dangote Refinery cut its ex-gantry price by N25 to N1,325 per litre, but the figure remains above pre-September levels
- Rising fuel costs are set to become a major flashpoint as political parties ramp up campaigns ahead of the presidential election
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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.
Petrol prices at Nigerian National Petroleum Company (NNPC) Limited outlets and private filling stations have climbed to levels that are drawing fresh political scrutiny, with the ruling All Progressives Congress (APC) facing growing pressure ahead of the 2027 general elections.
NNPC's current pump price list shows petrol selling at N1,385 per litre in Lagos, N1,430 in Abuja and N1,456 in Yobe.
Source: UGC
Other states on the list include Borno at N1,452, Adamawa at N1,447, Taraba at N1,445, Zamfara at N1,439 and Sokoto at N1,430.
The adjustments followed a decision by Dangote Petroleum Refinery to cut its ex-gantry price by N25, bringing it down from N1,350 to N1,325 per litre.
Prices remain elevated across major cities
On-the-ground checks showed NNPC outlets in Abuja selling at about N1,430 per litre, with NIPCO stations at a similar level and Mobil around N1,400.
In Lagos, prices hovered around N1,400, although they varied by location and marketer, BusinessDay reports.
The Nigeria Labour Congress said petrol was selling at about N1,430 per litre in major cities, with some locations charging as high as N1,500.
Reuters also reported prices of roughly N1,400 in Lagos and Abuja, rising above N1,500 in parts of northern Nigeria.
In Mubi, Adamawa State, pump prices were reported at as high as N1,850 per litre during the most recent surge.
Tricycle operators in Abuja have already responded by raising fares, with some commuters now paying N500 for trips that previously cost N400 or less.
Fuel costs enter the 2027 campaign
The price movement has put fresh focus on President Bola Tinubu's removal of petrol subsidies in 2023, which ended government price controls and exposed domestic pump prices to international oil market movements.
The government has defended the policy as necessary to eliminate the financial burden that subsidies placed on public finances.
The Independent National Electoral Commission has fixed the presidential and National Assembly elections for January 16, 2027, with governorship and State House of Assembly elections scheduled for February 6.
That timetable means fuel prices are likely to remain part of the economic debate throughout the campaign period.
Source: Facebook
Opposition parties have seized on the increases to challenge the APC's economic record.
Opposition politicians criticised the subsidy removal, while labour leaders called on the government to protect households from the impact of higher fuel costs.
The NLC has called for wage support and the sale of crude oil to local refineries in naira to limit exposure to global oil price swings.
The prices rose even with the Dangote Refinery operating at full capacity, underlining Nigeria's exposure to movements in international crude markets following the removal of petrol subsidies.
Good news as petrol prices fall at depots
Earlier, Legit.ng reported that petrol and diesel prices on Tuesday, September 15, were below current landing costs in several major markets, despite a surge in global crude oil prices.
Brent crude was trading at $108.60 per barrel as of 7:50 a.m. West Africa Time, a 2.79% rise, while U.S. West Texas Intermediate crude climbed 4.42% to $105.90 per barrel.
Dangote Petroleum Refinery is selling PMS at N1,350 per litre at the gantry, which is N70.
Source: Legit.ng
