The Nigerian National Petroleum Company Limited (NNPC) has increased its petrol pump price to ₦1,405 per litre, sparking fresh concerns among Nigerians over the rising cost of fuel and the federal government’s proposed petrol discount.
The new price represents a ₦35 increase from the previous rate of ₦1,370 per litre and has reportedly taken effect at NNPC filling stations across the country.
According to reports on Friday, some pump attendants, who spoke on condition of anonymity, disclosed that the company announced the price adjustment on Thursday before implementing it the following day.
However, NNPC has yet to provide an official explanation for the latest increase.
The development comes amid growing questions over the proposed petrol price relief announced by the Minister of Finance, Taiwo Oyedele.
On Thursday, Oyedele announced a proposed fixed petrol gantry price of ₦1,375 per litre ahead of the January 16, 2027 presidential election.
With NNPC now selling petrol at ₦1,405 per litre, its retail price stands ₦30 above the proposed gantry price. However, the two figures apply at different stages of the fuel distribution chain, meaning they are not directly equivalent.
The post NNPC Raises Petrol Price To ₦1,405 Per Litre Despite Tinubu’s Fuel Discount appeared first on Information Nigeria.