The Nigerian National Petroleum Company (NNPC) Limited has increased the pump price of premium motor spirit (PMS), also known as petrol, at its retail outlets across Lagos and Abuja.
The Cable on Monday reported that NNPC retail stations in Lagos now sell petrol for ₦915 per litre — up from ₦865, marking a ₦50 hike. In Abuja, the pump price has been raised from ₦890 to ₦955 per litre.
In Lagos, the new price was observed at the NNPC mega station in Abule Ado and at two retail outlets along Ago Palace Way, Okota. In the Federal Capital Territory, the price adjustment was reflected at the NNPC station along Kubwa Expressway, according to the report.
Read also: NNPC cuts petrol price to N910 per litre in Abuja
The development comes despite recent reductions in ex-depot prices by Dangote Petroleum Refinery, which last month slashed the price of petrol to ₦820 per litre, down from ₦840.
On July 31, the National Bureau of Statistics (NBS) reported that Lagos, Jigawa, and Ondo recorded the highest average retail prices of petrol in June. In contrast, Yobe, Kogi, and Imo posted the lowest average prices, ranging between ₦950 and ₦987 per litre — further evidence of pricing disparities across the country.
The reasons for NNPC’s upward revision remain unclear, the report says, especially as the naira has recently stabilised and crude oil prices have not spiked significantly.
