The Nigerian National Petroleum Company (NNPC) Limited has announced a fresh increase in the pump price of Premium Motor Spirit (PMS), popularly known as petrol, across its retail outlets nationwide.
Under the revised pricing, motorists in Lagos will now purchase petrol at ₦1,300 per litre, up from the previous ₦1,118, while prices in Abuja range between ₦1,270 and ₦1,330 per litre, depending on the location.
The latest adjustment marks the third upward review of petrol prices within the last two months. It comes amid ongoing volatility in Nigeria’s downstream petroleum sector, following the temporary suspension of gantry loading operations by Dangote Refinery and changes to its pricing structure. These developments led to higher costs at private depots, influencing retail pump prices across the country.
In response, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have urged the Federal Government to take urgent steps to stabilise fuel prices. The associations also cautioned against policies or market conditions that could result in the domestic pricing of petroleum products being tied to the US dollar, warning that such a trend could place additional pressure on consumers and the wider economy.
This version is broadcast-ready, original in wording, and maintains a neutral, professional news style.
