BREAKING: Nigerian Petroleum Company NNPCL Raises Fuel Price To N1030 Per Litre

This new increment took effect on Wednesday morning at various NNPC filling stations.

The increment is coming barely one month after the Nigerian National Petroleum Company Limited (NNPC) hiked the fuel price to over N850 per litre.

SaharaReporters learnt that this move by the filling stations was in compliance with a directive given by the NNPC management compelling an immediate increment of fuel official price from N568 to N855 in September.

Major oil marketers will also begin the direct purchase of Premium Motor Spirit, popularly called petrol, from the Dangote Petroleum Refinery between Thursday and next week as the Nigerian National Petroleum Company Limited pulls out as sole off-taker of the product from the $20bn plant.

Multiple sources from NNPC and the Major Energies Marketers Association of Nigeria confirmed on Tuesday that NNPCL was no longer the sole off-taker of Dangote petrol, giving room for other players in the downstream to buy products directly from the Dangote refinery.

This came as unconfirmed reports stated that the Nigerian Midstream and Downstream Petroleum Regulatory Authority had released new petrol prices, which are higher than the current pump prices in various locations nationwide.