NNPC, Marketers Raise Petrol Price to ₦955 per Litre Amid Supply Challenges
By Mariam Eko
The price of Premium Motor Spirit (PMS), popularly known as petrol, has increased by 6.8 percent, rising from ₦890 per litre last week to ₦955 per litre in major cities across Nigeria.
Checks by Vanguard at several filling stations operated by the Nigerian National Petroleum Company Limited (NNPCL) and independent marketers in Lagos and Abuja revealed that petrol is currently being sold between ₦900 and ₦955 per litre, depending on location.
Speaking in a phone interview, the Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. Chinedu Ukadike, attributed the recent hike to supply shortages and logistics constraints affecting major distributors, including NNPCL and Dangote Refinery.
“Dangote increased their loading price from ₦825 to ₦845 per litre, leading to a new pump price range of ₦900–₦955 depending on the area,” Ukadike explained.
He disclosed that supply from Dangote Refinery has been insufficient, adding that several marketers who paid for products two weeks ago are yet to be supplied.
“Most of our members who made full payments to Dangote are still waiting. Some ordered three million litres but received only one million. Products are being rationed,” he added.
Ukadike warned that unless the supply situation improves, fuel prices may continue to fluctuate, especially in areas farther from major depots.
Meanwhile, consumers across major cities have expressed frustration over the fresh hike, lamenting its impact on transportation fares and the cost of goods.
