The Nigerian National Petroleum Company Limited (NNPCL) has increased petrol pump prices by N25 per litre in Abuja and N35 per litre in Lagos at its retail stations.
In Abuja, the price per litre climbed from N965 to N990, while in Lagos, it rose from N925 to N960, according to THISDAY.
This adjustment follows a surge in global oil prices, with Brent crude—Nigeria’s benchmark—now exceeding $80 per barrel. It also aligns with President Bola Tinubu’s deregulation of the downstream oil sector.
Earlier, on January 23, the NNPC had reduced petrol prices at its retail outlets to N925 per litre in Lagos and N965 in Abuja from their previous rates of N1,025 and N1,040, respectively.
Last week, the Dangote refinery raised its ex-depot petrol price from N899 to N955 per litre, planning retail sales at N970 per litre.
The Minister of Petroleum Resources (Oil), Heineken Lokpobiri, noted that full deregulation now ties fuel prices to global oil market fluctuations, meaning prices will vary accordingly.
At NNPC stations in Abuja, including those at Berger, Zones 1 and 3, and Nyanya, pumps were adjusted to the new rates. However, private retailers like Shema, Bovas, AYM Shafa, and Zamson Oil along the Abuja-Keffi road were selling petrol at N1,000 to N1,030 per litre.
In a separate development, the NNPC revealed it uncovered 55 illegal refineries and 29 unauthorized pipeline connections across the Niger Delta in just one week.
In a video on its official YouTube channel, the company reported 179 incidents of oil theft between January 11 and 17, 2025. These operations resulted in the arrest of 30 suspects and the identification of various illegal installations.
“An industry-wide security collaboration to protect hydrocarbon infrastructure continues to deliver remarkable results,” the broadcast stated.
It also highlighted contributions from key stakeholders, including the NNPCL Command and Control Centres, Shell Petroleum Development Company, Pipeline Infrastructure Nigeria Limited, and Maton Engineering Nigeria Limited.
