NNPC Raises Petrol Pump Price to N617 in Abuja, N568 in Lagos

The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit, popularly called petrol from N537 to N617 per litre in all its filling stations in Abuja and N568/litre in Lagos and environs.

Also, independent oil marketers have adjusted their pumps to N600/litre.

President Bola Tinubu had, in his inaugural address on May 29, announced the removal of fuel subsidy, a development that resulted in the rise in the price of the commodity from N198 to between N500 and N557 in May, 2023, depending on areas of purchases.

Oil Marketers had sequel to the petrol subsidy removal and the floating of the naira, argued  that the pump price of PMS could rise to as high as N700/litre in the coming months.

Already, NNPC petrol stations in Abuja, Lagos and other states of the federation have adjusted their pump price to reflect the new cost of PMS.

There are indications that the price of the commodity will be higher in the northern parts of the country as well as in the south.