NNPC Increases Petrol Price to ₦990 Per Litre in Abuja
The Nigerian National Petroleum Company (NNPC) Limited has raised the price of petrol from ₦965 to ₦990 per litre at its retail outlets in Abuja. This adjustment follows the rise in global crude oil prices, which now directly influence local fuel costs due to the full deregulation of the sector.
Heineken Lokpobiri, Minister of Petroleum Resources (Oil), highlighted during the inaugural Petroleum Industry Stakeholders Forum in Abuja that deregulation means fuel prices in Nigeria will align with international market trends. He emphasized the importance of collaboration among stakeholders to address issues and foster growth in the oil industry.
“The idea is to create a platform where stakeholders can resolve concerns, develop policies, and build consensus to accelerate the growth of the oil sector,” Lokpobiri stated.
A survey by Tribune Online confirmed the price increase across NNPC stations in Abuja, including locations at Berger, Zones 1 and 3, and Nyanya. The hike extends to major marketers along the Abuja-Keffi road, with Shema, Bovas, AYM Shafa, and Zamson Oil selling petrol between ₦1,000 and ₦1,030 per litre.
This development underscores the impact of global oil market dynamics on domestic fuel prices, reflecting the realities of a deregulated petroleum sector.
