NNPCL pushes fuel price to N1,030 per litre in Abuja, N998 in Lagos

Oct. 9, 2024 - Daily Trust

Filling stations belonging to the Nigerian National Petroleum Corporation Limited (NNPCL) have increased the pump price of fuel. The product which previously sold for N897 in Abuja, the nation’s capital, currently sells for N1,030.

Asked how much, she responded “N1,030 per litre.”In Lagos, fuel which previously sold for N885 per ltire is now being sold at N998 amid long queues.

This implies that the national oil company will no longer cover the price gap between the facility’s price and the selling price to retailers, previously absorbing a subsidy of N133 per litre. Marketers would henceforth negotiate petrol prices directly with the Dangote Refinery under a “willing buyer, willing seller” arrangement, aligning with practices for other deregulated products such as diesel and kerosene.

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