NNPCL Increases Fuel Price to N905 per Litre
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol to N905 per litre at some of its retail outlets in the Federal Capital Territory (FCT). This represents a N15 (1.7%) rise from the previous price of N890/litre.
The hike is attributed to supply disruptions stemming from a dispute between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Dangote Refinery. The disagreement has reportedly impacted product availability and distribution across the country.
Speaking on the development, IPMAN President Abubakar Maigandi confirmed the challenges, noting that the labor dispute at the refinery has disrupted fuel flow into the market.
Despite NNPCL's price increase, the Independent Petroleum Marketers Association of Nigeria (IPMAN) stated its members will continue selling petrol at prices ranging from N885 to N895 per litre, depending on location and supply conditions.
The latest hike comes amid ongoing challenges in Nigeria’s oil and gas sector, including frequent supply chain bottlenecks, labor unrest, and rising operational costs. Analysts warn that continued increases in fuel prices could worsen inflation and deepen the cost-of-living crisis for many Nigerians.
#UTVAfrica#
