NNPC Increases Petrol Price To N960/Liter In Lagos, N990 In Abuja

The Nigerian National Petroleum Company Limited (NNPCL) has increased the price of petrol in the Federal Capital Territory, Lagos and its environs.

On December 23, 2024, the national oil company reduced the retail price of petrol at its outlets to N925 per litre from N1,025 per litre in Lagos.

However, on Tuesday, indications emerged that the petrol price at NNPC retail outlets has increased from N925 to N960 per litre.

Retail outlets also effected an upward adjustment in the petrol pump price from N965 to N990 per litre in the Federal Capital Territory.

Checks at some of the filling stations indicated that the price has been adjusted.

The amount is N20 or 2.1 per cent more than the N970 retail price announced by the Dangote Refinery in partnership with MRS filling station, Ardova, and Heyden.

The price adjustment reflects ongoing market dynamics and aligns with the deregulation policy in the petroleum sector, which allows prices to fluctuate based on supply and demand.

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