Petrol Price Soars to ₦955 in Abuja, ₦945 in Lagos as NNPCL Adjusts Rates

The Nigerian National Petroleum Company Limited (NNPCL) has raised the ex-depot price of petrol to ₦955 per litre in Abuja and ₦945 in Lagos. The hike has ignited concerns among citizens already grappling with rising inflation and economic hardship.

Marketers attribute the price surge to increasing operational costs, forex instability, and supply chain constraints. They also cite high transportation and distribution expenses, driven by diesel prices and security challenges across major routes.

Experts warn that the new price regime will likely trigger a fresh wave of increases in transportation fares and the cost of essential goods, putting additional pressure on struggling households. Civil society groups are urging immediate government intervention to mitigate the impact.