The Nigerian National Petroleum Company Limited (NNPCL) has adjusted its retail petrol prices upward in Lagos and Abuja, reflecting fresh supply cost pressures across the downstream market.
A DAILY POST market survey on Thursday found NNPCL filling stations in Lagos raised pump prices to ₦1,320 per litre from ₦1,245. A similar upward adjustment was recorded in Abuja, where the state-owned retailer raised prices to ₦1,364 per litre from ₦1,295, representing a ₦69 per litre increase.
The revised pricing has already taken effect across multiple NNPCL outlets in the Federal Capital Territory, including stations located in Gwarimpa, Kubwa Expressway, Wuse Zone 6, and Zone 4.
An attendant at one of the Abuja stations confirmed the development to Petroleumprice.ng, stating, “We adjusted our pump price to ₦1,364 per litre from ₦1,295 this morning.”
Other filling stations operating in Abuja, including MRS, BOVAS, and independent marketers, have also revised their prices upward, with petrol now selling between ₦1,365 and ₦1,370 per litre.
The latest adjustment follows a recent increase in ex-depot (gantry) prices by the Dangote Refinery, which raised its petrol loading cost by ₦75 to ₦1,275 per litre from ₦1,200. The refinery attributed the hike to rising global crude oil prices, which recently climbed above $115 per barrel.
The price revisions signal a continued pass-through effect of upstream cost increases to retail pump prices, further tightening conditions for consumers already grappling with elevated energy costs.