NNPC raises petrol price to N990 in Abuja

The Nigerian National Petroleum Company (NNPC) Limited, through its retail outlets, has increased the price of petrol from N965 to N990 per litre in the Federal Capital Territory.

Tribune Online reports that the increase is not unconnected with the rise in crude oil prices in the international market.

The Minister of Petroleum Resources (Oil), Heineken Lokpobiri, had last week during the inaugural Petroleum Industry Stakeholders Forum which was held in Abuja said deregulation has fully set in the sector as global oil price will now determine how much the price of fuel will be sold not only in Nigeria but globally.

According to the minister, the Forum came to be in order to bring all the stakeholders under one roof and to resolve all issues around oil production and availability.

“The whole idea is to have a one-stop shop where all stakeholders will gather together, address issues, concerns, evolve policies, build consensus so that the oil industry will grow very fast,” Lokpobiri said.

However, checks by Tribune Online at NNPC stations and major oil marketers revealed that the new price has been effected.

NNPC stations at Berger, Zones 1 and 3 and Nyanya have adjusted their pumps and it is the same at Mararaba and New Nyanya in Nasarawa State.

Shema, Bovas, AYM Shafa, and Zamson Oil along the Abuja-Keffi road are selling between N1,000 and N1,030 per litre.

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