NNPC Increases Petrol Prices Nationwide, New Rates Hit N1,361 in Abuja, N1,330 in Lagos

The Nigerian National Petroleum Company Limited (NNPCL) has announced a fresh upward review of petrol pump prices across its retail outlets nationwide, effective immediately.

The adjustment, which sees prices rising by at least N100 in major cities, comes amidst a surge in global crude oil costs and supply pressures. In Lagos, the pump price has moved from N1,230 to N1,330 per litre, while consumers in Abuja will now pay N1,361, up from N1,260.

The latest market volatility is partly driven by the Dangote Petroleum Refinery, which implemented two price increases within a single 24-hour window. The refinery raised its gantry price from N1,245 to N1,275 per litre, citing the rising cost of crude oil as the primary driver for the revision.

Major marketers, including MRS Oil Nigeria Plc and Ardova Plc, have also adjusted their rates. MRS set its new pump price at N1,332 per litre, while Ardova moved its Lagos price to N1,350.

A nationwide survey indicates that filling stations in Borno are now selling at N1,330, while Anambra consumers are facing rates as high as N1,335. Analysts warn that these adjustments will likely worsen inflationary pressures, as transportation and production costs are expected to climb in the coming days.

The NNPC has officially “added pepper” to our soup again! Just when we thought we were getting used to the old prices, they’ve added another N100 hike in Lagos, taking the price to N1,330. If you are in Abuja, the “Vawulence” is even higher at N1,361!

The real “Plot Twist”? Dangote Refinery didn’t just raise prices once; they did it TWICE in 24 hours! They went from N1,245 to N1,275 faster than you can say “Full Tank.”