Nigerian National Petroleum Company (NNPC) Limited has again increased the pump price of petrol in major cities, with the new rate now at N835 per litre in Lagos and N839 per litre in Abuja.
Gatekeepers News reports that this latest change was seen on Wednesday across NNPC retail stations in both cities, marking a rise from earlier prices at N785 in Lagos and N815 in Abuja.
The upward adjustment follows a similar move by the Dangote Petroleum Refinery, which recently raised its ex-gantry price to N799 per litre, prompting partner outlets like MRS stations to sell petrol at around N839 per litre. Analysts say this shows how refinery pricing is influencing retail fuel costs in Nigeria’s downstream market.
Officials from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have explained that competition, not subsidies, now largely guides fuel pricing in the deregulated market, and that improved supply helps support more stable prices over time.
“Sustained competition, rather than subsidies, will guarantee adequate supply of petrol and gas at affordable prices for Nigerians,” the CEO said.
The rising petrol prices may add more pressure on transport costs and the cost of living, especially for small businesses that depend on fuel for daily operations.
