The Digest:
The Nigerian National Petroleum Company Limited and other major filling stations have raised petrol prices twice within 24 hours, with NNPCL outlets now selling at N875 per litre in Abuja, up from N839 on Wednesday. A survey by Daily Post confirmed the adjustments at stations in Gwarimpa, Kubwa, Wuse, and other parts of the capital. The increase represents a N60 jump in a single day. Other retailers, including Ranoil and Empire Energy, have set prices between N899 and N900, while MRS increased by N100 to N839. The hikes follow recent ex-depot price increases by Dangote Refinery and depot owners above N799 per litre.
Key Points:
- Rapid price adjustments reflect volatility in Nigeria’s deregulated petrol market and rising upstream costs.
- Frequent increases place additional strain on households, transport operators, and small businesses.
- The widening gap between NNPCL and private station prices may signal supply or pricing strategy differences.
- Dangote Refinery’s pricing decisions continue to influence downstream market trends nationally.
- The situation underscores ongoing challenges in achieving price stability despite deregulation.
Consumers face mounting pressure as fuel costs rise sharply, highlighting the need for transparency and mitigating measures in Nigeria’s evolving energy market.
Sources: Daily Post Nigeria, Station Surveys, NNPCL Outlets
