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The Digest:

The Nigerian National Petroleum Company has triggered another wave of economic uncertainty by increasing petrol prices to nearly N1,000 per litre, reversing recent reductions and deepening the financial burden on households and businesses across major cities.

Key Points:
  • NNPC increased petrol prices to N992 per litre in Lagos, a N127 jump
  • Abuja stations now sell at N955 per litre, a N65 increase from previous rates
  • The hike reverses August's price reduction that brought temporary relief
  • NNPC outlets in Ago Palace, Lagos, and Kubwa, Abuja, confirmed new rates
  • This marks the latest volatility in Nigeria's fuel pricing landscape
  • The increase comes amid ongoing economic challenges for consumers
  • No official statement has been provided explaining the sudden adjustment
As fuel prices surge toward the thousand-naira threshold, the rhythm of daily life stutters, revealing how the cost of movement directly shapes the pace of survival in an economy where every liter counts.

Sources: The Cable