Fuel Price Rises to ₦955 per Litre as NNPC Adjusts Pump Rate Nationwide

By Diafa Doubra,

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has once again adjusted the pump price of Premium Motor Spirit (PMS), popularly known as petrol, raising it to ₦955 per litre in some parts of the country. The latest increase, which took effect early Tuesday, has sparked fresh concerns among motorists and citizens who are already grappling with rising living costs.

According to reports, the new price hike is linked to the sustained depreciation of the naira and increased landing costs of imported petroleum products. Several independent and major marketers across Lagos, Abuja, and Port Harcourt confirmed the adjustment, saying it was in line with the current market realities. The NNPC, which remains the sole importer of petrol, has reportedly been battling supply and distribution challenges triggered by global crude oil price fluctuations and logistics constraints.

Reacting to the development, some residents expressed frustration over the continuous rise in fuel prices, calling on the Federal Government to intervene. Transport fares, food items, and general commodities are expected to rise further in the coming days as a ripple effect of the hike. Meanwhile, economic experts have urged the government to accelerate efforts toward local refining, especially with the Dangote Refinery, to reduce dependence on imports and stabilize the downstream sector.