Residents of Nigeria’s commercial hub and the federal capital woke up to a fresh wave of fuel price increases on Wednesday morning.
The Nigerian National Petroleum Company Limited (NNPCL) has officially adjusted its pump prices across retail outlets in both cities, marking another significant shift in the country’s energy landscape.
In Lagos, the price of Premium Motor Spirit (PMS) has been moved up to N835 per litre.
Meanwhile, motorists in Abuja are now paying a slightly higher rate of N839 per litre at NNPCL stations.
These changes were implemented early Wednesday, catching many commuters and transporters by surprise as they began their daily activities.
The latest hike by the national oil company follows a similar move by the Dangote Refinery, which adjusted its prices just 24 hours earlier.
The refinery’s management explained that the recent price changes were necessary to align with market realities following the conclusion of a temporary price support period during the festive season.
Across various parts of Lagos and Abuja, long queues have started to resurface in some areas as motorists scramble to fill their tanks before other independent marketers follow suit.
In a related development, POLITICS NIGERIA recalls that the Dangote Petroleum Refinery had, on Tuesday, increased its gantry price to N799 per litre, which effectively pushed the retail price at MRS stations and other partners to N839 per litre.
This followed the refinery’s earlier intervention in December where it had crashed prices to N739 to provide relief for Nigerians during the Christmas and New Year holidays.