Nigerian Petrol Prices Continue To Rise As NNPC Sells Its Fuel In Lagos For N998 A Litre, More Than N1,000 Elsewhere.

In Nigeria, gas rates at NNPC stations have increased once more, to N998 in Lagos and N1,030 in Abuja.

At Nigerian National Petroleum Company Limited (NNPC) stations, the price of gasoline has increased to N1,030 per liter in Abuja and N998 per litre in Lagos as of Wednesday.

The NNPC opted to end its exclusive purchasing deal with Dangote Refinery, which led to the most recent development.

This is the second price increase in as many months; in September, prices in Abuja increased from N615 to N897 per liter.

According to reports earlier on Monday, Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPC) are ending their exclusive purchasing arrangement, which will allow other marketers to purchase gasoline straight from the refinery.

This implies that merchants would be able to directly negotiate rates with Dangote Refinery and that the NNPC will no longer be the only offtaker.

This move is in line with the procedures that are currently in place for completely deregulated products, which allow refineries to sell directly to marketers on the basis of interested buyers and sellers.

ALSO READ:

The Spouse Of BBN Star Queen Mercy Responds To Speculations That Their Marriage Is Dissolving By Writing “Mines” Beneath Her Post.