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For the second time in October 2024, the Nigerian National Petroleum Corporation (NNPCL) has silently increased the pump price of Premium Motor Spirit (PMS). That is, simply known as gasoline.
This is the fourth increase in gas prices between May 29, 2023 and the present. However, despite the price increase, refueling queues still persist at some stations in Abuja and Lagos.
According to a BBC Pidgin notice, the price of a liter of petrol for NNPC filling stations in Lagos will now be N1,025, an increase of N27 from the previous price of N998. For Abuja, the price increases from 1,030 Naira to 1,060 Naira, an increase of 30 Naira.
As usual, other major and independent oil marketing companies are also jacking up the price of dia pumps.
The development comes just two weeks after NNPCL’s petrol price increased from N897 to N1,030 on October 9.
The price of petrol in Binday Nigeria will be 197 Naira per liter until President Bola Tinubu announces the re-suspension of petrol subsidy on May 29, 2023. After this announcement, market players will increase the price of petrol to 540 Naira within 24 hours. Since then, the price has gone up to 617 Naira, 897 Naira in September, 1,030 Naira in October and now with a new increase.
Latest petrol prices across Nigeria
Wechin as we call the photo, NNPC has increased the price from N998 to N1,025-1,060 in Lagos and Abuja North West. NNPC sells for 1,070 while ODA marketers in Katsina, Kano, Kaduna and Sokoto sell for 1,120 to 1,500. North Central: NNPCL stations are priced between 1,060 Naira and 1,100 Naira, while Odas are priced between 1,300 Naira and 1,500 Naira. Northeast: Reports say you can buy petrol for 1,300 Naira in Adamawa State. : NNPC sells fuel to Bayelsa State at N1,300 per litre, while ODAS sells it at N1,450 to N1,500. In Port Harcourt, the capital of Rivers State, there is not much difference in price as fuel is sold for between N1,250 and N1,450 at private filling stations, while it sells for more than N1,500 on the black market. In Edo State, NNPC sells for 1,190 Naira while at other filling stations it sells for 1300 Naira or more depending on where you buy it. South East: In the case of Onitsha, the largest commercial city in the South East, petrol is sold between N1 and N1. 200 and N1,250 for private stations. NNPC sells for 1,100 Naira. South-West: Petrol prices at both NNPC and private filling stations are just above N1,000 around the city. Although once you get into non-urban areas like Ikorodu and Badagry, the price goes up to 1,150 Naira.Wetin IPMAN Talk
Origin of Wia’s photo, YouTube screenshot
While we call the photo a diss, IPMAN National Chairman Abubakar Garima says his members will never buy petroleum products directly from Dangote Refinery.
Mr. Abubakar Garima, National Chairman, Independent Petroleum Marketers of Nigeria (IPMAN), said that with the recent increase in the oil industry, extraction of petrol directly from the Dangote refinery has not started but the government has initiated the process. He said he had not.
Remember that NNPC Bintok will not continue to be the sole offtaker of petrol from the Dangote refinery, but rather that qualified marketers will negotiate directly with the company.
Mr Oga Garima said negotiations were ongoing.
“We will contact (Dangote Refinery) as a group and say there is no need to deal with them individually. Therefore, we will register one company named IPMAN Green Energy and submit company details. ‘But till date, we have not been able to register the company with the refinery,” Garima said in an interview on Channels TV on Wednesday morning. .
In response to Dangote Refinery owner Aliko Dangote Bin Toku on Monday, NNPC and gasoline market players said the refinery would still import gasoline to ensure it could supply Nigeria with all its needs. He said no.
“Register your company now and start offering your products. All your problems will be resolved.”
“No, we are the real retailers of Di Contri. We are supposed to be retailing more than 80% of the petroleum products for Di Contri, so if Dangote agrees to it and registers our company. Well, Everybody will go see the difference.
Garima said if IPMAN started pumping petrol directly from Dangote, it would be able to sell it cheaper and NNPC could sell it now.
