The Albino Foundation Public Notice
Filling stations belonging to the Nigerian National Petroleum Corporation Limited (NNPCL) have increased the pump price of fuel.
The product which previously sold for N897 in Abuja, the nation’s capital, currently sells for N1,030.
The recent development comes after the NNPC decided to terminate its exclusive purchase agreement with Dangote Refinery.
On Monday, it was reported that the Nigerian National Petroleum Company Limited (NNPC Ltd) is ending its exclusive purchase agreement with Dangote Refinery, opening up the market for other marketers to buy petrol directly from the refinery.
This means the NNPC will no longer be the sole off-taker, and marketers can now negotiate prices directly with Dangote Refinery. This development aligns with the current practices for fully deregulated products, where refineries can sell directly to marketers on a willing buyer, willing seller basis.
Our reporters observed that NNPC Ltd outlets in Abuja adjusted the pump price of petroleum to N1,030.
