Retail outlets operated by the Nigerian National Petroleum Company (NNPC) Limited on Monday raised the pump price of Premium Motor Spirit (petrol) to N945 per litre in the Federal Capital Territory (FCT).
The price hike was also implemented at NNPC stations in Lagos, where petrol now sells for N915 per litre. The adjustment marks a fresh increase of N45 in Lagos and N35 in Abuja, compared to the previous rates of N870 and N910, respectively.
Ibadan, the Oyo State capital, also recorded a rise in pump prices to N925 per litre at NNPC outlets.
The upward revision follows shortly after the Dangote Petroleum Refinery raised its ex-depot petrol price from N825 to N880 per litre—an industry move that has now triggered wider market response among retailers nationwide.
At the NNPC retail outlet in the Federal Housing area of Kubwa, Abuja, the new rate of N945 per litre was prominently displayed.
A similar adjustment was recorded at the state-owned mega station along Obasanjo Way. In Lagos, NNPC outlets in Igando and along the Badagry Expressway reflected the revised N915 per litre price.
The fuel price increase comes amid global oil market volatility triggered by heightened geopolitical tensions.
However, in a special report, it was noted that the global prices of oil may see a spike following US President Donald Trump’s decision to strike three nuclear facilities in Iran, directly entering the ongoing tensions between Iran and Israel.
NIGERIAN TRIBUNE
