The Nigerian National Petroleum Company Limited (NNPCL) has raised the price of premium motor spirit—commonly known as petrol—at its retail outlets to N905 per litre, up from N890. This represents a N15 (1.7 percent) increase and was observed at NNPCL stations in Wuse Zone 6 and Zone 4.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) attributes the hike to supply disruptions stemming from a recent feud between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Dangote Refinery. PENGASSAN staged a two‑day strike over the mass dismissal of Nigerian workers by the refinery; the strike was suspended after federal government intervention.
Despite NNPCL’s price rise, IPMAN President Abubakar Maigandi says association members continue to dispense petrol between N885 and N895 per litre, in line with their commitment to keep fuel affordable for consumers.
The increase reflects broader challenges confronting Nigeria’s oil and gas sector, including supply‑chain disruptions and labor disputes. While PENGASSAN’s strike raised concerns about potential impacts on oil production and distribution, swift government action averted a prolonged fuel‑supply crisis that could have had far‑reaching economic consequences.
Industry stakeholders are closely monitoring the situation as it evolves. The price hike comes at a time when Nigeria is grappling with fuel scarcity and supply‑chain issues, and its ultimate effect on consumers and the wider economy remains to be seen.
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