N1,030/Litre Price: NLC Calls for Immediate Reversal as Fuel Queues Return

The Nigeria Labour Congress and the Organised Private Sector are demanding an immediate reversal of the recent increase in pump prices for Premium Motor Spirit (petrol) set by the Nigerian National Petroleum Company Limited (NNPCL).

NNPC’s retail stations have raised petrol prices to N1,030 per litre in Abuja, up from N897, and to N998 in Lagos, from N868. This price surge, affecting various locations, has sparked significant frustration among Nigerians.

This increase, the second in just one month, represents a rise of approximately 14.8 percent or N133. Since the current administration took office 17 months ago, petrol prices have skyrocketed by over 430 percent, starting from N617 per litre when the government assumed power.

Last month, NNPC had already raised prices from N617 to N897 in Abuja, citing a substantial debt of around $6.8 billion owed to international suppliers. At an NNPCL station in Central Area, a customer reported that petrol was being sold for N1,030, but the prices were not displayed on either the signboard or pump meter, leaving customers unaware of the cost.

The new prices were communicated verbally by fuel attendants, which is against standard practices. One frustrated customer expressed, “I was very angry. I thought the price would be lower, and only after waiting in line did I find out it had risen to N1,030.”

This announcement follows NNPC’s decision to terminate its exclusive purchasing agreement with Dangote Refinery, allowing other market players to buy directly from the refinery. Oil marketers noted that this move effectively eliminated the petrol subsidy, with prices now determined on a willing buyer, willing seller basis. In some locations, prices soared as high as N1,200 per litre. For example, an Eterna station in the city center was selling at N1,200, while Mobil station at Arab Junction charged N990, and NNPCL stations did not display prices.

Efforts to contact NNPCL for comments were unsuccessful as spokesperson Femi Soneye did not respond.

Following the petrol price increase, drivers and transport operators have raised their fares. A one-way trip from Lugbe to Wuse in Abuja now costs N1,000, up from N700, while transport costs in Borno State surged as petrol prices hit N1,250 per litre.

Reports indicate that many filling stations, including NNPC outlets, have shut down, contributing to an artificial scarcity of fuel. In various states, prices vary widely: in Ilorin, Kwara State, NNPC stations charged N1,045, while other stations sold between N1,210 and N1,300. Prices in Edo ranged around N1,250, and in Delta, they were between N1,100 and N1,200, while in Abia, prices were reported at N1,200 to N1,300. In Yobe, NNPC sold for N1,098, while others charged between N1,150 and N1,170. Prices in Ondo fluctuated from N970 to N1,115 throughout the day.