Filling stations operated by the Nigerian National Petroleum Corporation (NNPCL) Limited have once again increased the pump price of fuel.
Reports show that the price of fuel in Abuja has risen from N897 per liter to N1,030. In Lagos, the price has escalated from N885 per liter to N998.
The new pump price reflects a 12.7% increase, amounting to N113, and has been implemented across all NNPC filling stations in Lagos.
This price adjustment follows indications of a potential hike due to NNPCL’s withdrawal as an intermediary in the Dangote Refinery purchase agreement.
ADDITIONAL INFORMATION
This marks the second upward adjustment by NNPC within the span of September to October and coincides with the commencement of crude oil sales in Naira to the Dangote Refinery.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, had on Saturday announced that Nigeria officially began selling crude oil and refined petroleum products in Naira on October 1, 2024, in accordance with directives from the Federal Executive Council (FEC).
