NNPC increase fuel price in Nigeria to N855 per liter

Recent reports have confirmed that the Nigerian National Petroleum Corporation Limited (NNPCL) has adjusted the pump price of petrol to N855 per liter.

As of Tuesday morning, some NNPCL retail stations in Lagos are selling fuel between N865 to N897 per litre. This change has been observed in several NNPC retail stations, particularly in Lagos and Abuja.

In Alausa, the pump price of the NNPC station reads N865 while others in Ikeja and Ikuo displayed N868 and N897.

The adjustment has sparked concern among Nigerians, as it represents a decrease from the previous price of N568 per liter. Videos circulating online have shown NNPC pumps displaying the new price, further fueling public apprehension about the rising cost of fuel.

This price hike comes as NNPC faces significant financial pressures, including a reported $6 billion debt from its supply chain. The company has cited market realities as the reason for the adjustment, suggesting that further fluctuations in fuel prices may occur as economic conditions evolve.

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