The Nigerian National Petroleum Company (NNPC) Limited has increased the pump price of petrol to ₦835 per litre in Lagos and ₦839 per litre in Abuja, marking another adjustment in the downstream sector.
On Wednesday, observations at NNPC retail outlets showed the new prices, representing:
- A ₦50 increase from N785 per litre in Lagos.
- A ₦20 increase from N815 per litre in Abuja.
This development comes just a day after the Dangote Refinery raised its ex-gantry price of petrol to ₦799 per litre, with MRS retail outlets adjusting their pump price to ₦839 per litre, up from ₦739.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had earlier stated on January 28 that sustained competition in the sector would drive prices of petrol, diesel, and liquefied petroleum gas (LPG) downward.
NMDPRA CEO Saidu Mohammed explained that the removal of petrol subsidy has allowed market forces to operate more effectively, enhancing efficiency and supply stability.
“Sustained competition, rather than subsidies, will guarantee adequate supply of petrol and gas at affordable prices for Nigerians,” Mohammed said.
Consumers in Lagos and Abuja will now pay higher prices at the pump, aligning with Dangote’s refinery adjustments.
The government continues to emphasize market-driven pricing as a pathway to efficiency and eventual affordability.
The latest hike shows the Nigerian energy market is still very volatile, even as regulators insist competition will stabilize costs in the long run.
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