Petrol prices have reportedly reached N1,030 per litre at various Nigerian National Petroleum Company Limited (NNPC Ltd) outlets in Abuja, as reported by Premium Times.
This increase follows NNPC’s decision to terminate its exclusive purchase agreement with Dangote Refinery. Earlier on Monday, Premium Times disclosed that the NNPC is ending this agreement, allowing other marketers to buy petrol directly from the refinery.
As a result, the NNPC will no longer act as the sole off-taker, enabling marketers to negotiate prices directly with Dangote Refinery. This shift aligns with the current practices for fully deregulated products, where refineries can sell directly to marketers on a willing buyer, willing seller basis.
On Wednesday morning, PREMIUM TIMES observed that NNPC Ltd outlets in Abuja’s Central area had adjusted the pump price to N1,030. One customer, Glory Okoye, remarked, “This is funny; I just noticed that the pump price has changed from N897 to N1,030.”
At several stations in the Wuse and Lugbe areas, the price also rose to N1,030, prompting complaints from motorists amid the uncertainty.
In Akute, Ogun State, Premium Times found NNPC outlets closed to motorists, who formed long queues along the Akute-Alagbole Road. One motorist reported that the outlets had sold petrol earlier in the day but stopped midway, citing a faulty generator. An attendant mentioned they were awaiting further pricing directives from management, leaving frustrated customers in limbo.
