By John Umeh
Nigerians are facing yet another wave of economic hardship as the pump price of petrol has climbed to ₦955 per litre, following fresh adjustments by the Nigerian National Petroleum Company Limited (NNPC) and private marketers. This marks the second increase in just one week, further deepening the strain on households already reeling from rising costs of essential commodities.
The development comes alongside a dramatic surge in the price of cooking gas, which has skyrocketed from about ₦1,000 per kilogram just two weeks ago to an alarming ₦3,000. A standard 12.5kg cylinder that previously cost ₦12,500 now sells for as high as ₦37,500 in major cities such as Abuja and Lagos.
In the Federal Capital Territory, NNPC outlets in Gwarimpa, Kubwa Expressway, and Wuse Zones 4 and 6 adjusted their pumps to ₦955 per litre on Monday. Several other stations, including AA Rano, Ranoil, and Mobil, are selling within the ₦920–₦930 range. Last weekend, some MRS outlets were still dispensing at ₦851, underscoring the steep pace of increases.
Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PPROOAN), confirmed the new rates, while the Independent Petroleum Marketers Association of Nigeria (IPMAN) cited supply and logistics challenges as the driving force behind the hikes.
According to IPMAN spokesperson Chinedu Ukadike, Dangote Refinery raised its loading price from ₦825 to ₦845 per litre, translating into retail prices now ranging between ₦900 and ₦955 depending on location. However, Ukadike noted that Dangote’s supply is still inadequate to meet demand, with rationing limiting allocations to marketers.
“Some marketers who paid for up to three million litres from Dangote only got one million litres. With such rationing and restricted supply from NNPC, scarcity naturally drives prices upward,” Ukadike explained.
The dual blow of surging petrol and cooking gas prices has left many Nigerians worried about the rising cost of living, with analysts warning that inflationary pressures could worsen in the weeks ahead unless supply bottlenecks are urgently addressed.
