NNPCL Raises Petrol Price to N1,270/Litre Despite Dangote’s Free Delivery Initiative
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, despite falling crude oil prices and Dangote Refinery’s expanded free petrol delivery initiative.
A market survey on Tuesday, an Eid-ul-Mawlid public holiday, showed that NNPCL retail outlets in Abuja and its environs had adjusted their petrol pump price to N1,270 per litre, up from N1,250 per litre.
The latest adjustment represents an increase of N20 per litre at the state-owned filling stations.
The price hike comes despite the Dangote Petroleum Refinery’s expansion of its free petrol delivery initiative to 10 destinations across Nigeria, including Abuja.
Under the initiative, Dangote Refinery is offering petrol at N1,185 per litre to participating destinations, with the company covering the cost of transporting the product to the locations.
The contrasting price movements have renewed attention on petrol pricing and competition in Nigeria’s downstream oil sector, particularly as crude oil prices have recently declined.
The NNPCL adjustment is expected to attract further scrutiny from motorists and other petroleum consumers, who continue to grapple with high transportation and living costs following the removal of fuel subsidies.
The latest development also comes amid increasing competition between locally refined petroleum products and the various pricing strategies adopted by major industry players.
