Subscribe to Updates

    Get the latest news as they happen

    What's Hot

    RCCG medical outreach: 500 Lagos residents benefit

    July 28, 2025

    WAFCON victory: See how we overpowered Morocco – Super Falcons 

    July 28, 2025

    Union Bank Rewards Customers with ₦5 Million Each in Save and Win Palli Promo Season 4 Grand Finale

    July 28, 2025
    Facebook Twitter Instagram
    Megastar Magazine
    • Politics

      LG Election: Sanwo-Olu swears in LG chairmen, vc

      July 28, 2025

      New APC Chairman: Humanitarian Affairs Minister, Nentawe Yiltwada takes charge as leader

      July 24, 2025

      APC to hold NEC meeting in Presidential Villa, appoint new Chairman

      July 23, 2025

      Igbinedion Wins APC Ovia Bye-election’s Ticket, Heads for House of Representative

      July 20, 2025

      Momodu resigns from PDP, aligns with ADC

      July 17, 2025
    • Entertainment
      1. People
      2. Events
      3. Fashion
      Featured
      News July 25, 2025

      Miss Tourism Africa and Mister Tourism International 2025 to hold in Plateau

      Recent

      Miss Tourism Africa and Mister Tourism International 2025 to hold in Plateau

      July 25, 2025

      Kaduna Film Festival’s 8th edition with purpose of being change agent

      July 25, 2025

      Spotify: Wizkid emerges first African artist to reach 9 billion streams      

      July 25, 2025
    • Business

      Union Bank Rewards Customers with ₦5 Million Each in Save and Win Palli Promo Season 4 Grand Finale

      July 28, 2025

      Verve Goodlife Promo returns, promises exciting cashbacks

      July 26, 2025

      Elumelu promises N25 billion to support Lagos food initiative

      July 24, 2025

      Glo subscribers to enjoy device protection

      July 24, 2025

      Shaping Africa’s Payment Future for More Than 15 Years

      July 24, 2025
    • Health

      LASEPA, UNIDO, Japan govt unite to train food vendors, waste workers in Ikorodu to fight epidemic

      July 26, 2025

      JDPC sets up Trauma Centre for victims of attacks in Plateau

      July 16, 2025

      Healthcare centre named after Remi Tinubu in Lagos

      July 11, 2025

      First Lady, Oluremi Tinubu inaugurates 30-bed Primary Health Centre in Lagos

      July 10, 2025

      Sterling Bank recognised for 2025 Nigerian Healthcare Excellence Awards

      July 4, 2025
    • Culture

      Rite Foods Powers Ojude Oba Festival, Adds Colour to its Festivities, Reinvigorates Participants with Its Award-winning Brands

      June 11, 2025

      Glo Celebrates 20-Years Of Showcasing Ojude Oba To The World With Gifts Of Cars, Tricycles And More

      June 9, 2025

      House Of Adron Illuminates Ojude Oba Festival With Grandeur, Honours Awujale Of Ijebuland

      June 8, 2025

      Ijebu Ode aglow with grandeur, culture at Ojude Oba festival

      June 8, 2025

      2025 Durbar Festival: Crowd gather in Ilorin to celebrate in grand style

      June 8, 2025
    • Lifestyle

      TOOF Champions a Defining Moment for Nigerian Art at Old Masters by Future Masters Exhibition

      July 23, 2025

      What Would an African SDG Treaty Look Like?

      July 21, 2025

      Golden Jubilee: Makinde lauds Alaafin at 50th celebration

      July 17, 2025

      Beware: Almost got Initiated into witchcraft on internet – Olayode

      July 16, 2025

      Destiny, Endurance and Victory of Oba Sikiru Adetona, the Awujale of Ijebuland

      July 15, 2025
    • Sports

      WAFCON victory: See how we overpowered Morocco – Super Falcons 

      July 28, 2025

      South Africa to host Super Eagles September 9 for W’Cup Qualifiers

      July 28, 2025

      Tinubu to meet Super Falcons on Monday

      July 27, 2025

      Nwoko Lauds Super Falcons’ Victory, Says ‘Mission X’ Expressed Nigerian Resilience

      July 27, 2025

      WAFCON best player, goalkeeper awards go to Ajibade, Nnadozie

      July 27, 2025
    • Contact
    YouTube Facebook Instagram WhatsApp
    Megastar Magazine
    Home»News»NNPCL’s raise in petrol price causes Abuja residence to buy at N990, N965 in Lagos
    News

    NNPCL’s raise in petrol price causes Abuja residence to buy at N990, N965 in Lagos

    Ifetayo AdeniyiBy Ifetayo AdeniyiJanuary 22, 20254 Mins Read
    Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email Telegram
    Share
    Facebook Twitter WhatsApp Telegram Email

    NNPCL’s raise in petrol price causes Abuja residence to buy at N990, N965 in Lagos

    NNPCL’s raise in petrol price causes Abuja residence to buy at N990, N965 in Lagos.

    Retail outlets owned by the Nigerian National Petroleum Company Limited have effected an upward adjustment in the pump price of the Premium Motor Spirit, also known as petrol, from N965 to N990 per litre in the Federal Capital Territory.

    The new price template effected nationwide on Tuesday also increased NNPCL price in Lagos from N925 to N960 per litre.

    Checks by our correspondent at some of the filling stations indicated that the price has been adjusted.

    The amount is N20 or 2.1 per cent more than the N970 retail price announced by the Dangote Refinery in partnership with MRS filling station, Ardova, and Heyden.

    The price adjustment reflects ongoing market dynamics and aligns with the deregulation policy in the petroleum sector, which allows prices to fluctuate based on supply and demand.

    This increase follows recent developments in the sector, including the commencement of loading operations at the Dangote Refinery, expected to reshape the fuel supply chain in Nigeria.

    Recall that on Friday, the pump prices of petrol rose to between N1,050 and N1,150 per litre following the hike in the cost of the commodity by the Dangote Petroleum Refinery and various depot owners.

    The $20bn plant raised its PMS from N899/litre to N955/litre at its loading gantry.

    Dealers confirmed that PMS prices would continue to rise since the major component in fuel production, crude oil, has been on the upward swing lately.

    At an NNPCL outlet at Airport Junction, Abuja, our correspondent observed that the station sold at N990 per litre from N965 it sold on Monday.

    Another station at Life Camp listed its products at N970 per litre but was not selling to waiting for customers when our correspondent visited.

    Another station at Mabuchi was still selling at its previous price of N965 per litre.

    Meanwhile, major and independent marketers have increased petrol prices to a peak cost of N1,030 per litre.

    Checks by our correspondent showed that filling stations located along Airport Road, Central Area, and Nyanya increased their retail cost between N990 and N1,030 per litre.

    The amount represents an increase of N60 or 6.18 per cent from N970 it sold its products last week Friday.

    Aym Shafa and Matrix filling stations along the Airport Road sold at N1,000 per litre while Shema station sold at N1,030.

    As petrol consumers adjust to the new pump price, experts predict further changes in petrol pricing as Nigeria continues to align its energy policies with global market realities.

    A source at the private depot informed that loading activity commenced fully on Monday with bulk marketers loading products from the Dangote refinery.

    The source said, “Refined petroleum sales commenced fully today with no issues at all. Marketers have increased their prices between N965 and N975 per litre at depots but at filling stations, a litre increased above N1,000 in Lagos. In Akwa Ibom, prices increased to N1,100.”

    Reacting, an oil and gas expert, Olatide Jeremiah, said the refinery, Depot, and Pump price changes are a reflection of market forces and a testament to the petroleum sector being deregulated.

    He said, “The Refinery, Depot, and Pump price changes are a reflection of market forces and a testament to the petroleum sector being deregulated. Deregulation is one major solution to fuel scarcity and hike in pump prices.

    “This hike is temporary; it’s an effect of Former President Biden’s ban on Russian oil companies. As of this morning, Brent crude oil prices fall to $80 per barrel as Trump assumes Presidency.”

    Meanwhile, Brent crude oil futures dropped to $79.98 per barrel on Monday, from $81 last Friday.

    Brent crude for March delivery was down 1.5 per cent to trade at $79.66 per barrel at 11.20 am ET while WTI crude for February delivery declined 1.8 per cent to $76.46 per barrel.

    But following the inauguration yesterday, the Brent crude rose again marginally to $80.05.

    The US under Joe Biden, the immediate past president, had intensified sanctions on Russia, imposing heavy fines on its vessels.

    Experts say it was influenced by US President Donald Trump’s inauguration in the hope of some clarity on his policy agenda.

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Previous ArticleKeep Zamfara clean initiative: Gov Lawal distributes vehicles for the purpose
    Next Article Kebbi’s empowerment: 1,125 APC delegates get N135m
    Ifetayo Adeniyi
    • Website

    Adeniyi Ifetayo Moses is an Entrepreneur, Award winning Celebrity journalist, Luxury and Lifestyle Reporter with Ben tv London and Publisher, Megastar Magazine. He has carved a niche for himself with over 15 years of experience in celebrity Journalism and Media PR.

    Related Posts

    Religion July 28, 2025

    RCCG medical outreach: 500 Lagos residents benefit

    News July 28, 2025

    UNN Confers Doctor of Public Administration Degree on NDDC Boss Ogbuku

    News July 27, 2025

    Shettima embarks on journey to Ethiopia for UN Food Summit 

    News July 27, 2025

    Court justifies NYSC’s use of skirts for female corps members

    News July 26, 2025

    Nollywood star Odunlade Adekola loses father

    Health July 26, 2025

    LASEPA, UNIDO, Japan govt unite to train food vendors, waste workers in Ikorodu to fight epidemic

    Leave A Reply Cancel Reply

    This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

    Don't Miss
    Religion July 28, 2025

    RCCG medical outreach: 500 Lagos residents benefit

    RCCG medical outreach: 500 Lagos residents benefit RCCG medical outreach for 500 residents of the…

    WAFCON victory: See how we overpowered Morocco – Super Falcons 

    July 28, 2025

    Union Bank Rewards Customers with ₦5 Million Each in Save and Win Palli Promo Season 4 Grand Finale

    July 28, 2025

    South Africa to host Super Eagles September 9 for W’Cup Qualifiers

    July 28, 2025

    Subscribe to Updates

    Get the latest news as they happen

    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    About Us
    About Us

    We are Multimedia company that specializes in Events Coverage and Planning, Media Publicity, Publishing, Awards and Outsourcing in giving styles to your event and creating brand visibility for your products and services.

    Email Us: officialmegastarmagazine@gmail.com
    Contact: +234 705 311 1111

    Our Picks

    RCCG medical outreach: 500 Lagos residents benefit

    July 28, 2025

    WAFCON victory: See how we overpowered Morocco – Super Falcons 

    July 28, 2025

    Union Bank Rewards Customers with ₦5 Million Each in Save and Win Palli Promo Season 4 Grand Finale

    July 28, 2025
    New Comments
    • Anozie okolo on Supreme Court Affirms President Tinubu’s Victory As Atiku, Peter Obi Lose
    • Mc richman on Nigeria and South African Music histories
    • Moses Ibrahim on Olu of Warri: Pictorial @ The Ogiame Atuwatse III Economic Summit.
    • Sen Rich Kay on MALARIA ERADICATION: Prince Ned Nwoko & NMEP Meet for joint action.
    Megastar Magazine
    YouTube Facebook WhatsApp Instagram
    • Privacy Policy
    • Terms of Use
    • Contact Us
    © 2025 Megastar Magazine. Designed by MANNDI

    Type above and press Enter to search. Press Esc to cancel.