The Nigerian National Petroleum Company (NNPC) Limited has increased the price of petrol from N910 to N945 in Abuja and from N870 to N915 per litre at several of its Lagos retail outlets.
This adjustment reflects a N35 and N45 hike in the amount previously sold in Abuja and Lagos respectively.
Other petroleum product companies, such as MRS and TotalEnergies, have also increased their pump prices to N925 and N910 per litre, respectively.
The price hike is attributed to the recent move by the Dangote refinery to increase the ex-depot price of petrol to N880 per litre.
Motorists are already lining up to purchase fuel at the new prices, with some fuel stations in Lagos selling at N915 per litre.
The NNPC outlets in Fin Niger Badagry Highway and Igando have also adjusted their pumps to N915 per liter.
The price increase is likely to have a significant impact on the cost of living and transportation in Nigeria, where petrol is a major source of energy. The development has sparked concerns about the potential effects on the economy and the general public.
As the situation continues to unfold, many are closely monitoring the impact of the price hike on the market and the public’s response to the changes.
