The Nigerian National Petroleum Company Limited (NNPCL) on Wednesday increased the pump price of petrol in Lagos and the Federal Capital Territory (FCT), Abuja.
The fresh increase followed the September 2, 2024 increase by the NNPCL. The retail company had hiked the price per litre of petrol from N568 to N855.
Many NNPCL outlets in Lagos sold a litre of petrol for N998, which is N143 higher than the initial price of N855. The sudden increase set motorists and transporters in panic-buying mode.
Filling stations not owned by the NNPCL immediately followed suit as they also incrementally adjusted their pump prices, with many selling as high as N1050 in many parts of Lagos.
In Abuja, NNPCL retail outlets increased the price of petrol from N897 to N1,030.