BREAKING: FG Continues Upward Review Of Petrol Price Amid Scarcity, Hardship

FG has continued to upwardly review the price of petrol in some parts of the country amid scarcity and hardship in Nigeria.

 

NewsOnline Nigeria reports that Nigerians, particularly commuters and motorists, continue to struggle as Nigerian National Petroleum Corporation Limited (NNPCL) filling stations have once again raised petrol prices in Lagos and Abuja.

 

This Nigeria news platform confirms that this marks the third price hike in less than two months, with prices in Lagos rising from N998 to N1,025 per litre and in Abuja from N1,030 to N1,050 per litre.

 

NewsOnline can confirm that NNPC retail outlets in Lagos, such as Ikeja, Egbeda, Cement, and Dopemu, now sell PMS for N1,025 per litre.

Similarly, in Abuja, filling stations in Wuse, Kuje, Airport Road, and other areas are now dispensing petrol at N1,050 per litre.

 

This latest increase comes over a month after the NNPC began lifting petrol from the Dangote Petroleum Refinery’s gantry, following a lengthy period of price negotiations.

 

On September 15, NNPC disclosed that petrol was sourced from the Dangote refinery at N898 per litre. However, the refinery’s management refuted the pricing report, describing it as misleading, though they did not disclose the actual price.

 

NewsOnline Nigeria recalls that in September, the NNPC disclosed that it was purchasing petrol from the Dangote Refinery at N898.78 per liter but selling it to marketers at N765.99 per liter, absorbing a subsidy of nearly N133 per liter. However, the company emphasized that this arrangement is no longer sustainable.

 

Between September 15 and 30, the NNPC lifted about 103 million liters of petrol from the Dangote Refinery. During this period, the refinery loaded 2,207 out of the 3,621 trucks dispatched to it. These trucks transported a total of 102,973,025 liters out of the intended 400 million liters, originally planned to be lifted at a daily rate of 25 million liters.

 

Following the lifting, the NNPC announced new fuel prices for different locations across the country.