The Nigerian National Petroleum Company (NNPC) Limited has increased the price of petrol to N915 per litre in Lagos and N945 per litre in Abuja.
This marks a N45 increase in Lagos from the previous price of N870 per litre, and a N35 jump in Abuja, where the price had been N910 per litre.
On Monday, the price of the product increased to N915 at various NNPC stations across Lagos.
At the Fin Niger outlet on the Badagry Expressway and the Igando station, fuel was being sold at N915 per litre.
In Abuja, the NNPC filling station in the Federal Housing area of Kubwa sold petrol at N945 per litre, up from N910.
Other fuel stations also adjusted their prices. MRS, a partner of the Dangote Refinery, raised its price to N925 in Lagos, up from N875.
TotalEnergies increased its pump price from N879 to N910 per litre. At Oluwafemi Arowolo Petroleum in Iba, fuel was sold at N920 per litre.
These changes follow a recent move by Dangote Refinery to raise its ex-depot price of petrol to N880 per litre.
The refinery also announced plans to take on fuel and diesel distribution nationwide and rolled out 4,000 compressed natural gas (CNG)-powered tankers to boost delivery across Nigeria.
While the Dangote Group says this will improve fuel logistics and availability, some industry groups have raised concerns.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) warned that the refinery’s plan might lead to monopolistic control and could affect jobs in the downstream sector.
The Major Energies Marketers Association of Nigeria (MEMAN) has also asked for more transparency around Dangote’s nationwide distribution strategy.
Experts say the refinery’s actions could reshape the fuel market and bring long-term advantages to consumers, but may also create serious challenges for existing players in the downstream oil sector.
KanyiDaily recalls that Dangote Refinery recently announced a new drop in petrol prices, cutting N15 off the pump price across Nigeria.
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