New Rate: Transport, goods at risk as NNPCL raises fuel price

The Nigerian National Petroleum Company Limited (NNPCL) has announced a new increase in the price of petrol in Nigeria’s two major cities, Lagos and Abuja.

According to the company, petrol now sells for ₦835 per litre in Lagos and ₦839 per litre in Abuja. The price change took effect on Wednesday and has been implemented across NNPCL retail filling stations in both cities.

The increase is expected to affect transportation costs and the prices of goods and services, as petrol plays a major role in daily economic activities across the country.

This latest adjustment comes just one day after the Dangote Refinery increased the price of Premium Motor Spirit (PMS). Industry observers believe the changes in refinery and supply costs may be responsible for the rising fuel prices.

NNPCL has not yet given detailed reasons for the increase, but fuel price changes in Nigeria are often linked to global oil prices, exchange rates, and supply conditions.

Many Nigerians are worried that the higher petrol price will further increase the cost of living, especially for commuters and small business owners who rely heavily on fuel for transportation and power generation.

As of the time of this report, the new prices are already being charged at NNPCL filling stations in Lagos and Abuja.