BREAKING: N1,030 per Litre: NNPC’s New Fuel Price Sparks Concern

By Samaila Emmanuel Bzugu

The Nigerian National Petroleum Corporation Limited (NNPCL) has increased the pump price of fuel at its filling stations.

In Abuja, the price has risen from N897 to N1,030 per litre, while in Lagos, it has increased from N885 to N998 per litre.

Our correspondent observed long queues at NNPC outlets in Maitama and Gudu, Abuja, with motorists waiting to purchase the product.

In Abuja, the price has risen from N897 to N1,030 per litre, while in Lagos, it has increased from N885 to N998 per litre

An attendant at the Gudu station confirmed the new price, stating that the management was waiting for the metre to be adjusted to reflect the current price.

This development comes 24 hours after Daily Trust reported a likely pump price increase due to NNPCL’s exit as a middleman in the Dangote Refinery purchase deal.

The move marks a shift towards a fully deregulated oil market, with marketers negotiating petrol prices directly with the Dangote Refinery under a “willing buyer, willing seller” arrangement.

NNPCL’s decision is seen as a crucial step towards reducing the financial strain of the subsidy system.