The Nigerian National Petroleum Company (NNPC) Limited has elevated the pump worth of Premium Motor Spirit (PMS), extensively referred to as petrol, in its stores, sparking renewed issues over transportation and inflationary strain.
Checks at some NNPC stations on Monday confirmed the upward adjustment, with costs rising to ₦915 per litre in Lagos and ₦955 per litre in Abuja.
In Lagos, a number of the firm’s shops mirrored a worth change from ₦865 to ₦915. In the Federal Capital Territory, motorists had been greeted with a revised worth of ₦955 per litre at some shops, up from the earlier ₦890.
The enhance comes regardless of current efforts to stabilize costs within the downstream sector. Only final month, Dangote Refinery diminished its ex-depot worth from ₦840 to ₦820 per litre in a bid to ease market strain.
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According to the National Bureau of Statistics (NBS), common PMS costs in June ranged from ₦950.60 to ₦987.86 throughout states, with Jigawa, Ondo, and Lagos recording the very best charges, whereas Yobe, Kogi, and Imo posted the bottom.
This newest hike by NNPC is predicted to affect transport fares and dwelling prices, including to inflation issues as stakeholders proceed to trace pricing tendencies pushed by home refining output and import parity benchmarks.
