Nigerians will soon face an increase in petrol prices due to the Nigerian National Petroleum Company Limited (NNPC Ltd) decision to terminate its exclusive purchase agreement with Dangote Refinery, PREMIUM TIMES has learnt.
According to a Premium Motor Spirit (PMS) data pricing framework across eight Nigerian cities, obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the price of petrol at retail outlets nationwide is set to rise to at least N991.21/litre from the current N897/litre.
A data review indicates that in Abuja, the nation’s capital city, petrol may sell as high as N1,029.01 in retail outlets. The price of petrol in Lagos may rise to N991.21 per litre, N1,040.31 in Kano, and N1,007.35 in Calabar.
The product would sell for an average of N1,045.72 per litre in fuel stations in Sokoto, N1,059.39 in Maiduguri, N999.27 in Ibadan, and N1,022.63 in Enugu.
Earlier on Monday, this newspaper exclusively reported that the Nigerian National Petroleum Company Limited (NNPC Ltd) is ending its exclusive purchase agreement with Dangote Refinery, opening up the market for other marketers to buy petrol directly from the refinery.
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