The Nigerian National Petroleum Company Limited (NNPCL) has announced a rise in its premium motor spirit (PMS) price following a recent increase in the gantry price set by the privately‑owned Dangote Refinery.
Effective this morning, NNPCL’s outlets in Abuja and surrounding districts raised the pump price to N1,364 per litre, up from N1,295—a hike of N69 per litre. The adjustment was implemented at stations in Gwarimpa, the Kubwa Expressway, Wuse Zone 6 and Zone 4. An attendant at one of the stations confirmed the new rate, saying, “We adjusted our pump price to N1,364 per litre from N1,295 this morning.”
Other fuel retailers in the capital have responded in kind. Companies such as MRS and BOVAS have lifted their retail prices to a range between N1,365 and N1,370 per litre.
The NNPCL increase follows a unilateral move by the Dangote Refinery on Wednesday, which raised its gantry price by N75 to N1,275 per litre, up from N1,200. The refinery cited a surge in crude‑oil costs — crude oil trading above $115 per barrel — as the primary driver of the adjustment.
The price changes come amid ongoing volatility in global oil markets, where crude prices have been buoyed by geopolitical tensions and supply‑chain constraints. Nigeria, which imports a substantial portion of its refined petroleum products, is particularly sensitive to fluctuations in crude costs, as they directly affect the pricing structure of downstream fuel.
The rise in PMS prices is likely to have immediate implications for commuters, transport operators and businesses reliant on diesel and gasoline. Higher fuel costs can translate into increased transportation expenses, potentially feeding through to the price of goods and services across the economy.
Stakeholders and consumers will be monitoring further developments, especially any additional adjustments from major refiners or the federal government’s fuel subsidy policies. The current price level sets a new baseline for fuel retail in Abuja, and future changes will depend on both international crude trends and domestic policy responses.
