The Nigerian National Petroleum Company Limited (NNPCL) has announced new petrol pump prices following its recent agreement with the Dangote Refinery. This move is aimed at reflecting current market conditions and logistics costs across various regions in Nigeria.
The new petrol prices across various regions in Nigeria are as follows: Lagos at ₦950.22 per litre, the Federal Capital Territory (Abuja), Sokoto, and Kano at ₦999 per litre, Rivers, Bayelsa, Akwa Ibom, and Imo at ₦980 per litre, Oyo at ₦960.22 per litre, and Borno at ₦1,019.22 per litre.
NNPCL emphasized that these prices are determined by market dynamics and are not government-regulated. The agreement with Dangote Refinery includes payment in US dollars for the September 2024 petrol offtake, with Naira transactions beginning on October 1, 2024.
This adjustment is part of NNPCL’s efforts to ensure a stable petrol supply nationwide, while responding to the changing economic landscape. The new pricing strategy aims to balance affordability with the realities of production and distribution costs.
