The Nigerian National Petroleum Company Limited (NNPCL) has raised the pump price of Premium Motor Spirit (petrol) for the second time in less than 24 hours, following a recent increase at the Dangote Petroleum Refinery.
On Sunday, NNPCL retail outlets in Abuja and surrounding areas adjusted the price from ₦967 to ₦1,082 per litre—a ₦115 jump per litre. This comes shortly after the state-owned firm had earlier increased the price from ₦960 to ₦967.
In total, petrol prices at NNPCL stations have risen by ₦207 per litre in less than a week, highlighting the growing strain in Nigeria’s downstream petroleum sector. The new prices were seen at outlets along Kubwa Expressway, Gwarimpa, Wuse Zones 4 and 6, and Lifecamp.
Independent marketers have also revised their prices in line with the refinery’s adjustments. Filling stations like MRS Oil Nigeria, AA Rano, and Empire Energy now sell petrol between ₦1,092 and ₦1,150 per litre, compared with the previous ₦960–₦980 range.
The surge follows Dangote Refinery’s increase in the ex-depot petrol price from ₦874 to ₦995 per litre—a ₦121 jump—driven by rising international crude prices, which recently surpassed $90 per barrel.
Billy Gillis-Harry, National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, said the hikes reflect global crude oil volatility, particularly due to tensions in the Middle East involving Iran, the US, and Israel.
“The Dangote Refinery gantry petrol price hike and retail adjustment are a direct result of crude price fluctuations caused by the ongoing geopolitical situation in the Gulf,” he explained.
Gillis-Harry urged Nigerian regulators to act quickly to stabilise the market and prevent further swings in petrol prices, as consumers and motorists continue to feel the pinch.
