The price of petrol at various Nigerian National Petroleum Company Limited (NNPC Ltd) outlets in Abuja surged to N1,030 per liter on Wednesday, according to reports by Premium Times. This price increase follows the NNPC’s decision to end its exclusive purchase agreement with Dangote Refinery, which previously allowed NNPC to be the sole buyer of petrol from the refinery. With this change, other marketers can now directly purchase from Dangote Refinery on a “willing buyer, willing seller” basis, leading to market-driven prices.
At NNPC stations in the Central Area of Abuja, the pump price was observed to have jumped from N897 to N1,030, causing frustration among motorists. A customer, Glory Okoye, expressed disbelief, saying, “This is funny; I just noticed that the pump price has changed.” Similar price hikes were reported in other parts of Abuja, such as Wuse and Lugbe.
In Akute, Ogun State, NNPC outlets were closed to motorists on Wednesday after reportedly selling fuel earlier in the day. Motorists waiting in long queues were told the closure was due to a faulty generator, with no clear directives on pricing from management.
The fuel price hike has caused widespread discontent among motorists and commuters, who continue to grapple with the uncertainty surrounding fuel availability and pricing amid the deregulated market.
