Close Menu
PARADIGM NEWS
    Facebook X (Twitter) Instagram
    • Home
    • Privacy Policy
    Facebook X (Twitter) WhatsApp Telegram
    PARADIGM NEWS
    • Home
    • Features

      BDC Operators Hand Evidence Against Kano Governor’s Aide in 6.5.BN Probe

      August 30, 2025

      How MH-NoW Advocates Reusable Pads for Nigerian Girls

      August 4, 2025

      I’ll dress elegantly for a week, lady vows as Kano women storm markets

      March 29, 2025

      Dr. Abdullahi Umar Ganduje’s Legacy of Progress and Excellence

      December 25, 2024

      The rise and fall of Faruk Lawan: A lesson in power and intrigues

      December 17, 2024
    • News
      1. Local
      2. National
      3. International
      4. View All

      Kano Invests N300 Million in Sumaila LGA to End Water Crisis

      August 14, 2025

      Kano Governor’s Aide Inspects N300m Projects in Minjibir LGA

      August 12, 2025

      Access to Next Funding Tranche Tied to Project Completion- KNSG Warns LGAs

      August 4, 2025

      Kano PWD Groups Deny Slamming Govt Over Disability Commission Delay

      July 31, 2025

      FG Unveils Bold Energy Plan to Power Industry, Jobs and Innovation

      August 31, 2025

      FG Begins Service-Wide Audit to Eliminate Ghost Workers

      August 30, 2025

      BPP, NBA Sign MoU to Strengthen Fight Against Corruption

      August 24, 2025

      FG Pledges Timely Completion of Enugu-Port Harcourt Expressway

      August 15, 2025

      TICAD9 Opens New Chapter in Africa,Japan Relations- AU

      August 28, 2025

      AU-CELAC Talks Focus on Trade, Investment, Reparatory Justice

      August 28, 2025

      AU Chairperson Champions Women Mediators in Peace Talks

      August 28, 2025

      President Tinubu Expands Nigeria’s Global Partnerships in Brazil

      August 26, 2025

      BudgIT, Partners Train Kano Stakeholders to Curb Corruption, Strengthen Governance

      August 29, 2025

      Jigawa at 34: The Poetry of Progress, the Philosophy of Responsibility

      August 29, 2025

      Thieving Aide Story”: Daily Nigerian Publisher Dragged to Court

      August 29, 2025

      Red Cross Inaugurates 12 Governing Board Members in Kano

      August 29, 2025
    • Politics

      Dollar Video Scandal: Former Ganduje’s CPS, Anwar, Allegedly Retracts Statement As Witness

      August 29, 2025

      Kano Assembly Swears In Two Newly-Elected Lawmakers

      August 27, 2025

      ADC Woos Grassroots as Top Lagos Politicians Dump PDP, LP

      August 26, 2025

      Jonathan Best to Rescue Nigeria in 2027- North-West Group

      August 25, 2025

      NNPP Alleges Collusion, Rejects Tsanyawa/Ghari Rerun Results

      August 17, 2025
    • Conflict

      Kadpoly Retiree faults Committee, Demolition Of Property

      March 27, 2025

      President Tinubu Declares State of Emergency in Rivers State

      March 18, 2025

      El-Rufai Defends Najaatu Muhammad Against Ribadus Denials

      February 5, 2025

      Tinubu’s Corruption Saga: Najaatu-Ribadu Feud Takes Center Stage

      February 5, 2025

      Kano Inaugurates Committee to Investigate Rimin Zakara Dispute

      February 3, 2025
    • More
      • Analysis
      • Business
      • Crime
      • Cultural events
      • Economy
      • Education
      • Editorial
      • Entertainment
      • Environment
      • Fashion
      • Health
      • Lifestyle
      • Personality profile
      • Science
      • Sports
      • Technology
    • Hausa

      Tinubu Ya Haramta Safarar Yayan Kadanya Daga Najeriya

      August 27, 2025

      COPCLIS Na Taka Muhimmiyar Rawa Wajen Gina Ilimin Addini-Makoda

      August 26, 2025

      NDLEA Ta Kama Matashi da Wiwi Mai Darajar Naira Miliyan 10

      August 25, 2025

      Sokoto: Mutane 6 Sun Mutu, 3 Sun Bace a Hatsarin Kwale-kwale

      August 25, 2025

      An Ceto Yara 14 Daga Hannun Kungiyar Safarar Yara a Adamawa

      August 21, 2025
    Subscribe
    PARADIGM NEWS
    Home » NNPCL Increases petrol price to N1,030 in Abuja, N998 in Lagos
    Business

    NNPCL Increases petrol price to N1,030 in Abuja, N998 in Lagos

    EditorBy EditorOctober 9, 2024Updated:October 9, 2024No Comments2 Mins Read
    Facebook Twitter Telegram WhatsApp
    1726172179320

    NNPC Limited retail stations and independent outlets started selling petrol as high as N1,065 per litre in Abuja, and N998 in Lagos among other new prices across Nigerian states, on Wednesday.

    This price hike comes after the NNPCL ended its exclusive purchase deal with the Dangote Refinery, according to a Premium Times report.

    The decision to set these new prices was reached through a joint review between the NNPCL and independent fuel marketers.

    Ad 4

    Prior to this, Premium Times had revealed that the NNPCL quit its exclusive supply deal with Dangote, paving the way for marketers to negotiate prices directly with the refinery.

    The quoted prices are between N1,030 and N1,065 per litre in Abuja, N998 per litre at the NNPCL stations in Lagos, N1,025 in other southwest states, between N1,060 and N1,070 in northeastern states, and between N1,055 and N1,075 south-south states

    Since the Dangote Refinery began operations in May, its relationship with the NNPCL has been rocky. According to Aliko Dangote, CEO of Dangote Group, the NNPCL lost its 20% stake in the refinery after failing to meet financial obligations

    Ad 3

    The NNPCL later claimed it intentionally reduced its stake based on internal assessments.

    There has also been some back-and-forth over petrol pricing. Dangote Group initially stated that the NNPCL had full authority to set prices, but it retracted that statement.

    Ash Noor

    The regulator quickly clarified that, in a deregulated market, prices are dictated by market forces, not the NNPCL.

    In July, the Federal Executive Council (FEC) stepped in, directing both parties to resolve their differences.

    By September, the NNPCL estimated that petrol prices would be N950.22 in Lagos and N992.22 in Abuja based on its negotiations with the refinery.

    “The estimated prices are based on negotiated terms between NNPC Ltd. And Dangote Refinery, which recognize current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the Petroleum Industry Act (PIA) 2021,” the NNPCL said at the time.

    “The NNPC Ltd. Can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024. We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public.”

    The NNPCL began lifting petrol from Dangote Refinery on September 15, and the breakdown of their exclusive agreement has now influenced the latest price review.

    Solacebase

    Share. Facebook Twitter LinkedIn Telegram WhatsApp

    Related Posts

    Tinubu Hails Capital Market Growth, Pledges More Reforms

    August 28, 2025

    NLNG, NNPC, and Partners Ink 20-Year Gas Supply Deals

    August 25, 2025

    Viral Video Sparks NNPC Crackdown on Fuel Station Misconduct

    August 11, 2025

    Subnational Business Ranking in Focus as PEBEC Meets Kano Stakeholders

    August 5, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Editors Picks

    FG Unveils Bold Energy Plan to Power Industry, Jobs and Innovation

    August 31, 2025

    NSC Endorses AFFAN for National Sports Federation Boards

    August 31, 2025

    Sport is Africa’s Tool for Peace, Unity, and Diplomacy- AU

    August 30, 2025

    Nigeria, UNICEF Scale Up Access to WASH, Hydropower

    August 30, 2025
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    Hajaj Albait 2
    © 2025 PARADIGM NEWS
    • Home
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.