NNPC Raises Petrol Price Again as It Sells Above ₦900

The Nigerian National Petroleum Company Limited (NNPC Ltd) has once again reviewed the price of petrol upward, sparking fresh concerns among motorists and households across the country. 

The new adjustment, made just days after the last increase, means petrol now sells for over ₦900 per litre in every state, with some locations nearing ₦1,000.

Prices increase nationwide

According to new figures from filling stations, Lagos residents now pay around ₦922 per litre, up from ₦870 earlier in the month. In Abuja, the price has risen to ₦955 from ₦905. 

In some northern states such as Kwara, Gombe, and Sokoto, petrol now costs between ₦965 and ₦975 per litre the highest prices recorded so far.

Meanwhile, the lowest rates were reported in Ondo and Osun, where petrol sells for about ₦900 per litre. This marks a uniform increase across the country, making it one of the steepest fuel price hikes since the full deregulation of the downstream sector began.

Independent marketers to adjust prices

With the NNPC leading the price change, independent marketers are expected to follow suit. This means pump prices across private filling stations will likely rise even further in the coming days as they align with the company’s new pricing template.

Though NNPC has not released an official statement explaining the fresh hike, industry observers link the adjustment to rising global crude oil prices and the continued volatility of the naira in the foreign exchange market.

Global Factors at Play

International oil prices have been fluctuating in recent weeks. Reports show Brent crude trading at around $63 per barrel, while West Texas Intermediate (WTI) stood at about $59. 

These figures, though modest compared to previous years, represent a short-term rebound following earlier drops caused by market uncertainty.

Analysts say higher crude prices often lead to increased landing costs for refined products, which in turn push retail prices up locally especially since Nigeria still depends on imported petrol for most of its consumption.

Dangote Refinery’s Next Move

In a related development, the Dangote Petroleum Refinery recently announced plans to begin direct delivery of petrol products across Nigeria. 

The refinery is reportedly acquiring 4,000 brand-new CNG-powered tankers to aid in this distribution.

Dangote’s management said the goal is to ensure steady supply and reduce the cost of transportation, which remains one of the key drivers of petrol price variations across states. The company is also setting up several CNG stations nationwide to support cleaner energy use and improve efficiency in product movement.

Nigerians React

The latest increase has sparked frustration among motorists, transporters, and business owners, many of whom say the rising cost of fuel is worsening the already high cost of living. 

Commuters in Lagos and Abuja report that transport fares have gone up overnight, while small business owners fear the ripple effect on production and sales.

With no official word yet from NNPC or the federal government, many Nigerians are left wondering when — or if — relief will come from the recurring fuel price hikes that continue to stretch their pockets.