₦airaland Forum

After initial hesitation, the Nigerian National Petroleum Company Limited has increased the pump price of petrol to N925 per litre at its retail stations in Lagos and N950 per litre in Abuja.

The new price regime, effective from April 2, 2025, represents an increase of N65 from the previous price of N860 per litre in Lagos and an N70 difference from the N880 previously sold in the North.

Recall that last week, MRS and other independent marketers increased the price of petrol, raising its pump price to N930 per litre in Lagos and N960 for residents living in the northern part of the country.

Industry experts said the new increase is a direct fallout of the recent suspension of sales of petroleum products in naira by the Dangote refinery.

This adjustment reflects ongoing changes in Nigeria’s deregulated fuel market and follows shifts in market competition, supply costs, and global oil price trends.

The development also comes against the backdrop of a new leadership at the national oil firm. President Bola Tinubu appointed Mr Bayo Ojulari to replace Mele Kyari in the early hours of Wednesday, while also restructuring the NNPCL board.

Our correspondent confirmed that NNPC stations along the Lagos-Ibadan Expressway and Ikorodu Road now sell at N925 per litre, after initially displaying N930 per litre to its customers.

Also, the NNPCL retail stations at Fadeyi, Ago Palace Way, and Ogba, as well as the NNPC station on College Road, have adjusted their prices to N925. In Ikeja, outlets on Acme Road and the Lagos-Abeokuta Expressway have also raised their pump prices to the new rate.

However, not all NNPC stations in Lagos may have updated their prices at the same time due to logistical delays.

In the Federal Capital Territory, the national oil firm station located along the Kubwa expressway increased its price to N950 from N880 per litre. Other stations along Wuse effected the same increase.

This adjustment comes after months of price competition. In March 2025, NNPC reduced its price to N860 per litre to match Dangote Refinery’s lower rates. However, due to rising global oil prices, exchange rate fluctuations, and changes in crude oil sourcing costs, NNPC has now revised prices upward.

Earlier in 2025, NNPC had sold petrol at N925 per litre in December 2024 before several price shifts. The current rate in Lagos is still lower than in some cities, like Abuja, where prices recently stood at N880 per litre.

iwaeda:
It will favour me and my family. When I told you it will reach N1k, people call me names. It will be above N1k in weeks. May be your truth of singing praise, will overshadowed my falsehood. Nigerians think and stop praising evil. David Tam West didn't see fuel being sold at N40.

Maxymilliano:
LoL ... And many motorists have already queued up at NNPC outlet in Ikoyi because of 860 pump price this morning

dre11:
https://punchng.com/nnpcl-raises-petrol-pump-price-to-n950-litre/?amp

SoftSport:
Tinubu’s shake-up, and fuel prices are rising! 🤦‍♂️ But with his leadership, Nigeria will thrive.

dre11:
https://punchng.com/nnpcl-raises-petrol-pump-price-to-n950-litre/?amp

Islie:
Despite the recent upward adjustments of the Premium Motor Spirit (PMS) petrol by different prices, the Nigerian National Petroleum Company Limited (NNPCL) has left its unchanged at N880 per litre in the Federal Capital Territory (FCT).

The Nation’s investigation at all NNPCL retail outlets in the city revealed the uniform price of N880 per litre.

In Lagos, the corporation has retained pump price at N860 while other major marketers have increased to between N930-N980.

Its Chief Corporate Communications Officer, Mr. Olufemi Soneye attributed the stability of price in the state-owned oil firm’s outlets to its determination to adhere to its core mandate.

The Petroleum Industry Act (PIA) mandates the NNPCL to guarantee energy security for the country.

Asked why has NNPCL left the pump price unchanged, Soneye told The Nation in Whatsapp text message that its for energy security mandate.

He further noted the PIA mandates NNPCL to be the supplier of last resort.

Soneye said: “Energy security. The law mandates NNPC to be the supplier of last resort.”

Asked whether NNPCL was sustaining the pump price at a loss, he said “not really.”
NNPCL’s refineries Port Harcourt and Warri have been operational, also supplying products to the domestic market.

https://www.google.com/amp/s/thenationonlineng.net/why-we-didnt-increase-petrol-pump-price-by-nnpcl/amp/

tishbite43:
This country na whining
NNPCL, Dangote, the marketers are all acting from the same script