The Nigerian National Petroleum Company Limited, NNPCL, is selling petrol at N1,405 per litre, placing its current pump price N30 above the proposed fixed gantry rate announced by the Minister of Finance, Taiwo Oyedele.
DAILY POST checks on Friday showed that NNPCL had increased its petrol price from N1,370 to N1,405 per litre, representing a N35 rise.
Some fuel attendants confirmed that the new price was announced on Thursday and implemented on Friday.
The latest adjustment comes after the state-owned oil company reduced its pump price to N1,370 per litre earlier in the week, following a previous increase to N1,405.
The repeated price changes have added to uncertainty surrounding petrol pricing, particularly amid discussions about a proposed reduction in fuel costs.
On Thursday, Oyedele announced a proposed fixed petrol gantry price of N1,375 per litre ahead of the January 16, 2027, presidential election.
However, NNPCL’s latest pump price remains above the proposed rate, with the company yet to explain the reason for the increase.
The development has raised fresh questions about the implementation of the proposed pricing arrangement and its potential impact on petrol prices at filling stations.
As of the time of filing this report, NNPCL had not issued an official explanation for the latest adjustment.
