The Nigerian National Petroleum Company (NNPC) Limited has raised the pump price of petrol to ₦915 per litre in Lagos and ₦945 in Abuja.
The increase has sparked fresh concerns among consumers and industry stakeholders.
The new pricing, which took effect Monday, represents a ₦45 hike from the previous ₦870 per litre in Lagos, and a ₦35 increase from ₦910 in Abuja, respectively.
A visit to several NNPC retail outlets in both states revealed that the outlets had begun immediate compliance with the revised price structure.
Private filling stations followed suit with MRS, a known partner of the Dangote refinery, increasing its price to N925 per litre, up from ₦875. Similarly, TotalEnergies raised its pump price to ₦910, compared to the ₦879 it charged previously.
The sudden hike follows a recent move by the Dangote refinery, which increased its ex-depot petrol price to ₦880 per litre, just days before launching nationwide logistics operations for petrol and diesel distribution on June 15.
The refinery also announced the acquisition of 4,000 CNG-powered tankers, further signaling its intention to control a larger share of the downstream fuel supply chain.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised alarm over potential monopolistic tendencies, saying the Dangote-led logistics model may stifle competition and lead to job losses in the downstream sector.
Similarly, the Major Energies Marketers Association of Nigeria (MEMAN) has called for clarity on the refinery’s distribution proposal, citing the need for regulatory oversight to ensure fair market practices.
