The Nigerian National Petroleum Company Limited (NNPCL) has increased petrol pump prices to ₦955 per litre in Abuja and ₦915 in Lagos. This follows sustained cost pressures from logistics, depot charges, and regulatory fees.
Petroleumprice.ng confirmed the adjustments across multiple NNPCL stations, including those in Wuse, Kubwa Expressway, and Abule-Ado in Lagos.
In addition, similar price jumps were recorded in Kogi and Nasarawa States, further confirming the nationwide impact of rising costs.
Depot Price Surge Sparks Retail Response
The price surge comes shortly after Dangote Refinery marketer raised petrol price from ₦820 to ₦858 per litre. Consequently, several independent filling stations in Abuja adjusted their pump prices to between ₦950 and ₦971 per litre over the weekend.
Mounting Pressures Across the Supply Chain
Multiple factors continue to influence the spike. These include rising international oil benchmarks and limited access to foreign exchange. Moreover, a new ₦10,000 electronic call-up fee imposed on trucks entering Lagos depots has pushed up distribution costs.
This fee, agreed between the Lagos State Government and transport unions, now applies across all depot access routes.
A distributor explained that, in the absence of a regulated pricing framework, retail stations are forced to respond to supply-side cost increases.
More Increases Expected as Market Remains Volatile
Looking ahead, analysts predict that more regions may experience pump price hikes. Since prices are now market-driven, any surge in cost—whether global or local—immediately reflects at retail points.
Although deregulation has opened the door for flexible pricing, public concern is growing over affordability. Some stakeholders now call for stronger oversight to reduce volatility.
As of now, NNPCL has not issued a formal statement on its pricing policy. However, observers believe more marketers may soon follow suit, potentially driving prices higher in the coming days.