The Nigerian National Petroleum Company (NNPC) Limited has once again increased the pump price of petrol across its retail outlets, with Lagos residents now paying N915 per litre and consumers in Abuja paying N945 per litre.
This latest hike, confirmed on Monday, reflects the ongoing rise in fuel costs across Nigeria’s major cities.
At NNPC stations located along Badagry Expressway and Igando in Lagos, petrol was dispensed at N915 per litre, while residents of the Federal Housing area in Kubwa, Abuja, paid as high as N945 per litre.
The upward adjustment isn’t limited to NNPC stations. Other major marketers have also increased their prices in response:
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MRS, associated with Dangote Refinery, raised its price to N925 in Lagos, up from N875.
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TotalEnergies adjusted its pump price to N910, a rise from N879.
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Oluwafemi Arowolo Petroleum in Iba sold petrol for N920 per litre.
This development follows the Dangote Refinery’s recent increase in ex-depot price to N880 per litre, announced just two days prior. The refinery also disclosed plans to commence nationwide distribution of petrol from August 15, 2025, as part of its broader market expansion.
In preparation for this, Dangote acquired 4,000 new compressed natural gas (CNG)-powered tankers aimed at strengthening its logistics network nationwide.
However, these moves have sparked concerns within the downstream sector. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) warned that Dangote’s growing control over logistics and distribution could potentially result in a monopoly, threatening thousands of jobs in the process.
Similarly, the Major Energies Marketers Association of Nigeria (MEMAN) called for greater transparency and clarity regarding the refinery’s nationwide plans, expressing apprehension over market dominance and pricing control.
What This Means for Consumers
Fuel price hikes are likely to impact transportation, commodity prices, and general living costs, further straining household budgets already affected by inflation and economic uncertainties.
Industry Watch
Stakeholders and regulatory bodies are expected to weigh in on Dangote’s planned market expansion, with possible implications for competition, pricing policies, and employment in the downstream sector.
