NNPC Increases Petrol Price by 15% to N1,030/Litre in Abuja and N998/Litre in Lagos
The Nigerian National Petroleum Company Limited has raised the pump price of petrol.
In Abuja, the price has been increased by 14.8 percent, now costing N1,030 per litre, up from the previous N897.
In Lagos, the pump price is now ₦998 per litre.
This latest hike marks the second increase in petrol prices within the past month, following an increase in September when the price rose from N615 per litre to N897.
The recent price increase has led to NNPC trending on X as Nigerians voice their outrage.
The recent development follows the NNPC’s decision to terminate its exclusive purchase agreement with Dangote Refinery.
Earlier this week, the Nigerian National Petroleum Company Limited (NNPC Ltd) announced that it would end this exclusive agreement, allowing other marketers to buy petrol directly from the refinery.
As a result, the NNPC will no longer be the sole off-taker, and marketers can now negotiate prices directly with Dangote Refinery.
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