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Shocker: NNPCL Increases Petrol Price

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Mele Kyari

The Nigerian National Petroleum Company Limited (NNPCL) has announced an increase in the price of Premium Motor Spirit (PMS).

According to the NNPCL, the new price of PMS is now N998 per liter.

The price was increased from N855 per litre to N998 per litre on Wednesday, with all NNPCL stations in Lagos changing their pump price to reflect the new rate.

The new price is a 12.7 percent or N113 increase from the initial price.

It would be recalled that the national oil company had on September 3, 2024, raised the price of petrol from N568, which was the lowest in Lagos, and N617 in some other parts of the country, to a minimum of N855, obtainable in Lagos.

The increase is coming despite the fact that the oil company is buying petrol from Dangote Refinery, an indigenous company located in Lagos.

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