The Nigerian National Petroleum Company (NNPC) Limited has raised the price of premium motor spirit, also known as petrol, to N925 per litre at its filling stations in Lagos and N950 per litre in Abuja, a few hours after the organisation witnessed a major administrative shake-up.
The national oil firm raised the product’s price from the previous N880 per litre.
In Lagos, the price of petrol at the NNPCL stations around Fadeyi, Ago Palace Way, and Second Rainbow outlets increased to N925 per litre from N860 on Wednesday, while NNPC retail outlets in Federal Housing, Kubwa, increased their price by N70.
The Guardian investigations revealed that some of the NNPC filling stations around Ikotun increased fuel prices to N925/litre while other privately owned filling stations like God’s Decision sold for N1000/litre.
NNPC stations along the Lagos-Ibadan Expressway and Ikorodu Road now sell at N925 per litre, after initially displaying N930 per litre to customers.
This latest development mirrors ongoing shifts in Nigeria’s free-market fuel system and follows changes in market competition, supply costs, and global oil prices.
On March 19, NNPCL maintained that the decision to halt sales in naira was triggered by its move to avoid a mismatch between sales proceeds and crude oil purchase obligations, which are currently denominated in U.S. dollars.
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This is coming after President Bola Tinubu appointed Mr. Bayo Ojulari to replace Mele Kyari as the NNPCL Group CEO early Wednesday, while also making changes to the NNPCL board.
Earlier in 2025, NNPC had sold petrol at N925 per litre in December 2024 before several price changes.
The Guardian
