NNPC

2024 - 10 - 9

NNPC vs. Dangote: The Great Nigerian Petrol Price Tug-of-War!

fuel price in nigeria Dangote Refinery - Fuel Price - IPMAN - Nigerian Economy - NNPC - Petrol Price Hike - Transportation Cost - fuel price in nigeria

Hold onto your wallets, Nigeria! 💸 NNPC just raised petrol prices again, and the drama with Dangote Refinery is making it even more thrilling!

In a shocking twist that has petrolheads across Nigeria gasping for air, the Nigerian National Petroleum Corporation (NNPC) Limited has once again raised the petrol price! This time, motorists in Lagos are shelling out N998 per litre, while those in the bustling capital, Abuja, are feeling the pinch at a staggering N1,030. This recent fuel price surge happens to be the third increase within just two months, leaving consumers scratching their heads and wallets light as a feather.

So what sparked this surge in prices? The plot thickens as NNPC decided to dump its exclusive purchase arrangement with the Dangote Refinery. With this shake-up, marketers are now able to negotiate prices directly, bringing a spice of competition into the mix. But is competition actually leading to better prices at the pump, or are we simply witnessing a pricing frenzy? One thing is for sure: NNPC's decision has sent ripples through the petrol market, leaving many to wonder what the future holds for fuel prices in Nigeria.

Local filling stations operated by NNPC outlets seem to be taking advantage of the new freedom, raising their prices without batting an eyelash. Reports indicate that the price escalation is about a 16% hike, and drivers are feeling the heat. With budgets already stretched thin due to various economic pressures, this latest increase in fuel cost has everyone from day-to-day commuters to transport unions buzzing with complaints.

As the public grapples with the reality of these rising costs, it's essential to keep in mind some interesting insights. Did you know that fuel prices in Nigeria have historically been influenced by global oil prices, refining capacities, and government policies? Furthermore, with Dangote Refinery’s entry into the market, the hope was that fuel prices would stabilize. However, as we’re seeing now, sometimes change can lead to unexpected twists in the tale! The question remains—how will Nigerians adapt to this frenzy, and what will the NNPC's next move be? Buckle up, folks! It’s shaping up to be a wild ride at the pumps!

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Image courtesy of "Nairametrics"

Again, NNPC raises petrol price in Lagos, Abuja (Nairametrics)

Filling stations operated by the Nigerian National Petroleum Corporation (NNPC) Limited have increased the pump price of fuel again.

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Image courtesy of "Premium Times"

Fuel price hits N1,030 at NNPC outlets (Premium Times)

The recent development comes after the NNPC decided to terminate its exclusive purchase agreement with Dangote Refinery.

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Image courtesy of "FIJ NG"

Petrol Sells at N1,065 in Abuja, N998 in Lagos After NNPC-Dangote ... (FIJ NG)

Prior to this, Premium Times had revealed that NNPCL quit its exclusive supply deal with Dangote, paving the way for marketers to negotiate prices directly with ...

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Image courtesy of "TheCable"

JUST IN: NNPC increases petrol price to N998 per litre (TheCable)

NNPC has increased the price of premium motor spirit, also known as petrol, across its retail outlets.

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Image courtesy of "Daily Trust"

NNPCL pushes fuel price to N1,030 per litre in Abuja, N998 in ... (Daily Trust)

Filling stations belonging to the Nigerian National Petroleum Corporation Limited (NNPCL) have increased the pump price of fuel.

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Image courtesy of "Economic Confidential"

JUST IN: Fuel price hits N1,030 at NNPC outlets - Economic ... (Economic Confidential)

Petrol pump price rose to N1,030 per litre at various outlets of the Nigerian National Petroleum Company Limited (NNPC Ltd) in Abuja on...

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Image courtesy of "Businessday.ng"

NNPC raises petrol prices again to N998 as Dangote products ... (Businessday.ng)

Nigerian National Petroleum Company (NNPC) on Wednesday increased the price of petrol by 16 percent, the third increase in two months and...

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Image courtesy of "Premium Times"

UPDATED: Fuel price hits N998 at NNPC outlets in Lagos; N1,030 ... (Premium Times)

The recent development comes after the NNPC decided to terminate its exclusive purchase agreement with Dangote Refinery.

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Image courtesy of "Arise News"

Petrol Prices Rise Further in Nigeria As NNPC Sells At N998/Litre in ... (Arise News)

Petrol pump price has risen to N998 per litre in Lagos and N1,030 per litre in Abuja at Nigerian National Petroleum Company Limited (NNPC) outlets on ...

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Image courtesy of "The Punch"

NNPC stations hike petrol price to N1,030 in FCT (The Punch)

Transportation costs are set to skyrocket in the Federal Capital Territory following the hike in the price of petrol by some stations of the Nigerian ...

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Image courtesy of "Pulse Nigeria"

It's an aberration for NNPC to fix petrol prices in Nigeria - Labour ... (Pulse Nigeria)

He said the Congress was dismayed by the latest increase in the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures.

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Image courtesy of "THISDAY Newspapers"

Finally, Subsidy Is Gone! NNPC Sells Petrol for N1,030/Litre in ... (THISDAY Newspapers)

•Marketers confirm return of competition in downstream oil sector. •NLC demands immediate reversal of fuel price increase. •NACCIMA, CPPE, NECA say latest ...

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Image courtesy of "Nairametrics"

Increase in petrol price by NNPC will prompt a vicious cycle of ... (Nairametrics)

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has raised concerns about the rising petrol pump prices in ...

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Image courtesy of "TheCable"

THE INSIDER: Why NNPC hiked petrol price and quit as middleman ... (TheCable)

Although the latest petrol price hike by the Nigerian National Petroleum Company (NNPC) Limited across its retail outlets is seen as a step towards full ...

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Image courtesy of "The Punch"

NNPC owes us almost N15bn, IPMAN laments (The Punch)

The National President, Independent Petroleum Marketers Association of Nigeria, Abubakar Garima, has stated that the Nigerian National Petroleum Company ...

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Image courtesy of "Federal Radio Corporation of Nigeria"

Nigerians groan as NNPC raises pump price - FRCN HQ (Federal Radio Corporation of Nigeria)

Nigerians are currently groaning as Nigerian National Petroleum Company Limited, NNPCL raised fuel price on Wednesday to N1,030 from N897/litre in Abuja, ...

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Image courtesy of "Premium Times"

Some fueling stations now selling petrol cheaper than NNPC (Premium Times)

Some stations in Abuja, Nigeria's federal capital, are selling petrol at prices lower than NNPC's.

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Image courtesy of "Reuters"

Nigeria's NNPC raises fuel prices as it ditches costly subsidies (Reuters)

Nigeria's state-owned oil company, NNPC Ltd, has increased petrol prices by over 15%, marking the second hike in less than a month and the exit from a ...

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Image courtesy of "Nairametrics"

Petrol hike: NNPC bought fuel below N900 from Dangote refinery ... (Nairametrics)

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has criticized the recent hike in petrol prices, accusing the national oil company, NNPC, ...

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Image courtesy of "CNBCAfrica.com"

Nigeria's NNPC raises fuel prices as it ditches costly subsidies (CNBCAfrica.com)

LAGOS, Oct 10 (Reuters) – Nigeria's state-owned oil company, NNPC Ltd, has increased petrol prices by over 15%, marking the second hike in less than a month ...

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Image courtesy of "TheCable"

IPMAN to NNPC: Sell petrol to us at Dangote refinery rate or refund ... (TheCable)

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has asked the Nigerian National Petroleum Company (NNPC) Limited to sell premium motor ...

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Image courtesy of "The Punch"

NNPC selling PMS to marketers at N1,010 per litre - IPMAN chair (The Punch)

He stated that the price peg is significantly higher than what the oil company paid to purchase products from the Dangote Refinery.

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