The Premium Motor Spirit, or gasoline, pump price has been abruptly increased by the Nigerian National Petroleum Company Limited (NNPCL) to N1,030 per liter.
Our correspondent saw the development on Wednesday at a few NNPCL locations in Abuja.
The latest event reportedly occurred as a result of the NNPCL’s decision to sever its exclusive purchase deal with Dangote Refinery.
As a result, marketers will have the ability to directly negotiate rates with Dangote Refinery, as the NNPCL would no longer be the only offtaker.
The product was originally available in the Federal Capital Territory (FCT) for N897 per liter.
According to additional information obtained by our source, fuel in Lagos is currently being sold in lengthy lines for N998 per litre, up from N885 previously.
