By Jelili Gbadamosi
The Nigerian National Petroleum Company Limited, NNPCL, has raised the pump price of Premium Motor Spirit, PMS, commonly known as petrol, to N1,405 per litre.
The latest adjustment represents a N35 increase from the N1,370 per litre price previously charged at NNPCL filling stations.
DAILY POST checks on Friday showed that the new price had been implemented at several NNPCL stations, with some pump attendants confirming that the adjustment was announced on Thursday.
The latest increase comes amid ongoing controversy over the proposed reduction in petrol prices.
NNPCL has yet to publicly disclose the reason for the latest adjustment.
The development also reverses the company’s decision earlier in the week to reduce its petrol price from N1,405 to N1,370 per litre.
Meanwhile, the Minister of Finance, Taiwo Oyedele, on Thursday announced a proposed fixed petrol gantry price of N1,375 per litre ahead of the January 16, 2027, presidential election.
The latest NNPCL adjustment therefore places its pump price N30 above the proposed gantry price, adding to uncertainty over the direction of petrol prices in the coming weeks.
