Fuel giant, NNPCL has increased the price of petrol to ₦945 per liter
NNPCL Increases Petrol Price Twice in Four Days
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), also known as petrol, across its retail outlets nationwide. This is the second increase in four days, with the new price at stations in Kubwa, Lugbe Expressway, Wuse Zone 4, and Wuse Zone 5 in Abuja now standing at ₦945 per litre.
The exact price was also recorded in NNPCL outlets in parts of Nasarawa and Kogi states, but the current price in these regions is not specified. The timeframe for this price increase is Friday morning, according to Maigandi, the National Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN).
However, Maigandi could not provide the reason for the latest increase in NNPCL petrol pump price. In contrast, the Dangote Refinery reduced its ex-depot price for petrol from ₦850 to ₦820 per litre on August 12, 2025, a drop of ₦30 per litre.
This contrast in pricing strategies between the government-linked NNPCL and the private Dangote Refinery has resulted in a price divergence. In Lagos, for example, NNPCL's petrol price is currently ₦895 per litre, while Dangote-partner stations are selling petrol at around ₦865 per litre.
The effect of Dangote's lower ex-depot price is expected to push down retail prices at outlets supplied by Dangote, potentially returning prices in Lagos to about ₦865 per litre. However, NNPCL outlets are currently selling petrol at a higher rate than Dangote’s partner stations.
As of Friday evening, MRS and Bovas filling stations were selling petrol at ₦885 and ₦895 per litre respectively, while other outlets such as Optima, Ranoil, AA Rano, and NIPCO were selling petrol between ₦950 and ₦955 per litre.
These rapid price changes reflect fluctuations in costs and attempts to keep pace with varying ex-depot prices and market competition. The dual price movements reflect competing pricing mechanisms within Nigeria’s fuel market, impacting final consumer prices at different retail points.
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- The Nigerian National Petroleum Company Limited (NNPCL) has increased the petrol price twice in four days, with the rate in Abuja now at ₦945 per litre.
- In contrast, the Dangote Refinery reduced its ex-depot price for petrol, leading to lower prices at Dangote-partner stations in Lagos, currently selling petrol at around ₦865 per litre.
- The Energy Finance Committee of Nigeria (EFCC) might want to investigate the reasons for the latest increase in NNPCL petrol pump price, considering the price divergence with the private Dangote Refinery.
- The Independent Petroleum Marketers Association of Nigeria (IPMAN) claimed that the current price hike was implemented by NNPCL on Friday morning, affecting many retail outlets across the nation.
