NNPC Raises Petrol Price to ₦1,405 Per Litre Amid Discount Controversy

New price represents a ₦35 increase, as questions emerge over the Federal Government’s proposed petrol discount.

The Nigerian National Petroleum Company Limited (NNPC) has increased its petrol pump price to ₦1,405 per litre, amid controversy surrounding the Federal Government’s proposed fuel discount.

The new price represents an increase of ₦35 from the previous rate of ₦1,370 per litre. According to reports, the adjustment took effect at NNPC filling stations on Friday, following an announcement reportedly made on Thursday.

Some filling station attendants confirmed the new price but spoke on condition of anonymity. NNPC has yet to publicly explain the reason for the latest increase.

The development comes amid questions over a proposed petrol discount announced by the Minister of Finance, Taiwo Oyedele.

Oyedele reportedly announced a proposed fixed petrol gantry price of ₦1,375 per litre on Thursday, ahead of the January 16, 2027 presidential election.

With the new pump price at ₦1,405 per litre, NNPC’s retail rate is ₦30 higher than the proposed gantry price. However, the two figures apply at different stages of fuel distribution.

The price adjustment has raised questions about the implementation of the proposed discount and how it will affect consumers purchasing petrol at NNPC filling stations.

As of the report, NNPC had not issued an official explanation addressing the latest increase or clarifying how the pump price relates to the proposed discount.

TRACKNEWS ONLINE
Bringing You the Latest News and Updates.