Nigerians in Lagos and Abuja are facing a fresh surge in petrol prices as the Nigerian National Petroleum Company (NNPC) Limited adjusted retail rates on Wednesday. In Lagos, the price per litre now stands at N835, up N50 from N785, while in Abuja, motorists pay N839 per litre, an increase of N24 from N815.
The revision follows a recent adjustment by Dangote Refinery, which raised its ex-gantry price to N799 per litre. Partner outlets, including MRS filling stations, have since increased retail prices to N839 per litre, up from N739.
David Bird, CEO of Dangote Petroleum Refinery, assured Nigerians that the refinery continues to supply about 50 million litres of petrol daily. “The refinery’s operational flexibility allows it to process a wide range of crude and intermediate feedstocks, ensuring uninterrupted PMS supply even during planned maintenance activities,” Bird said, highlighting the stability of national fuel distribution despite rising costs.
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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) emphasized that market forces, not subsidies, now largely determine fuel prices. Saidu Mohammed, NMDPRA’s CEO, explained that removing petrol subsidies has allowed competition to thrive, improving efficiency and helping maintain supply. “Sustained competition, rather than subsidies, will guarantee adequate supply of petrol and gas at affordable prices for Nigerians,” he said.
For everyday commuters and businesses reliant on fuel, the increases are likely to compound the cost of living. Regulators and refiners maintain that a market-driven approach is necessary to ensure the long-term stability of Nigeria’s downstream petroleum sector.