Petrol Prices in Nigeria’s Capital: A Spike Ahead?
As of Monday morning, the prices of Premium Motor Spirit (Petrol) in major filling stations in Abuja, Nigeria’s capital, stood between N897 and N980 per litre. This information was gathered by a Media Talk Africa correspondent who visited various filling stations, including those operated by Independent Petroleum Marketers and Nigerian National Petroleum Company Limited (NNPCL).
According to Benjamin Idah, a filling station owner, "We are yet to receive any information on PMS price adjustment. We still sell at N980 per liter." This statement raises concerns about the potential for a price hike in the coming days.
The NNPCL recently announced a fresh pricing strategy for September, which includes a range of prices across its retail outlets. The estimated lowest retail price of PMS stands at N950.22 in Lagos, while the highest is N1,019.22 per litre. When the current stock is exhausted, prices are expected to increase further, potentially reaching N1,083 per liter or more.
The distribution of PMS by Dangote Refinery on Sunday has contributed to this uncertainty. NNPCL claimed to have loaded over 70 trucks from Dangote Refinery at a price of N898 per liter. However, Anthony Chiejina, a spokesperson for Dangote Group, has disputed this claim, faulting NNPCL’s position on the price it paid for Dangote Petrol.
As the situation unfolds, it remains to be seen whether the prices of petrol in Abuja will indeed increase. One thing is certain, however: the uncertainty surrounding the future of petrol prices in Nigeria’s capital has left many wondering what the future holds.