The Nigerian National Petroleum Company Limited (NNPCL) has again raised the pump price of Premium Motor Spirit (PMS) at its retail outlets nationwide, marking the second upward adjustment in just four days and deepening concerns over the continued instability in the downstream petroleum market.
At several NNPCL stations in Abuja, including Kubwa, Lugbe Expressway, Wuse Zone 4, and Wuse Zone 5, motorists are now paying N945 per litre. The same price has been recorded in NNPCL outlets across parts of Nasarawa and Kogi states. The adjustment comes only two days after the company reduced its price to N900 per litre, following an earlier peak of N955 per litre on Monday.
Industry observers link the persistent fluctuations to changes in Dangote Refinery’s pricing, after it increased its ex-depot price to N850 per litre from N820. This decision has pushed retail prices higher, as marketers adjust to rising supply costs.
The ripple effect is evident across Abuja and other parts of the country, where independent and major marketers are selling at varied rates. MRS is currently dispensing petrol at N885 per litre, Bova at N895, while Optima, Ranoil, AA Rano, and NIPCO outlets are selling between N950 and N955 per litre. The price gaps have prompted motorists to hunt for cheaper stations, resulting in queues at select outlets offering slightly lower rates.
The repeated adjustments have intensified public debate on the stability of Nigeria’s fuel pricing system. Analysts warn that if the trend continues, it could have far-reaching effects on transportation fares, food prices, and inflation, placing additional pressure on households already grappling with the rising cost of living. The situation has also renewed calls for greater transparency in petroleum pricing and more strategic measures to stabilise supply and costs in the local market.
