NNPC Raises Petrol Price; Lagos Now N915, Abuja N945 per Litre

The Nigerian National Petroleum Company (NNPC) Limited has raised the pump price of petrol to N915 per litre in Lagos and N945 per litre in Abuja, marking another sharp increase in fuel costs.

TheCable observed on Monday that petrol now sells for N915 per litre at some NNPC stations in Lagos, including the Fin Niger outlet on Badagry Expressway and the Igando retail station — a N45 increase from the previous price of N870. In Abuja, the Federal Housing area in Kubwa recorded a jump to N945 per litre, up by N35 from the earlier N910.

Private marketers have also adjusted their prices. MRS filling stations, a Dangote refinery partner, increased prices to N925 per litre, up from N875, while TotalEnergies moved from N879 to N910 per litre. At Oluwafemi Arowolo Petroleum in Iba, prices climbed to N920 per litre.

The hike comes shortly after the Dangote refinery raised its ex-depot petrol price to N880 per litre and announced nationwide logistics for petrol and diesel distribution. The refinery also revealed it had acquired 4,000 new compressed natural gas (CNG)-powered tankers to bolster delivery across Nigeria.

However, the move has raised concerns. According to the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), “Dangote refinery’s forward integration adoption could lead to a monopoly in disguise and might cause significant job losses in the downstream sector.”

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The Major Energies Marketers Association of Nigeria (MEMAN) added on June 19 that it is seeking “clarity on Dangote refinery’s proposal for nationwide logistics for petrol and diesel distribution.”

While analysts suggest this development may benefit consumers long-term, stakeholders warn of unintended disruptions to existing retail structures.