The Nigerian National Petroleum Company (NNPC) Limited has raised the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to N839 per litre in Abuja and N835 per litre in Lagos, effectively aligning its retail rates with recent increases from the Dangote Petroleum Refinery.
The adjustment, observed at NNPC outlets on Wednesday, marks a N24 increase in Abuja (from N815) and a N50 increase in Lagos (from N785), signalling a fresh wave of price movements in Nigeria’s downstream oil sector.
This hike by the state-owned oil company directly follows a major pricing shift upstream. Earlier this week, Dangote Refinery increased the ex-gantry price—the cost at which it sells to marketers—from N699 to N799 per litre.
Retail outlets linked to Dangote’s distribution network, such as MRS, have consequently adjusted their pump prices to N839.
Market analysis indicates that NNPC’s move is a response to these upstream cost movements, demonstrating the refinery’s growing influence on national pump prices since it began domestic fuel supply.
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In a statement announcing its own price adjustment, Dangote Refinery attributed the increase to the conclusion of the festive season.
The company stated it had deliberately absorbed higher operational and logistics costs during the period to “ease financial pressure on Nigerian households” before reverting to “market-aligned pricing.”
The coordinated price rise underscores a pivotal shift in Nigeria’s fuel market dynamics, where refinery-level pricing now exerts significant downstream pressure.
In December 2025, Dangote Refinery took a step to broaden access by reducing the minimum purchase order for marketers from 500,000 litres to 250,000 litres.
Despite this, oil marketers have recently dismissed reports of fuel being sold below Dangote’s set prices, calling such claims “speculation.”
As Nigeria’s largest single fuel supplier, NNPC’s pricing decisions are closely watched. The latest hike, tracking the country’s major private refinery, suggests a new era of market-led pricing is firmly taking hold, with immediate consequences for consumers nationwide.
