The Nigerian National Petroleum Company Limited, NNPCL, has again Increased the pump price of the Petroleum Motor Spirit, PMS, also known as petrol to N1,030 per litre.
This development was observed at NNPCL outlets in Abuja on Wednesday.
The price hike follows the company’s decision to terminate its exclusive purchase agreement with Dangote Refinery.
Earlier on Monday, NNPC ended the agreement, allowing other marketers to directly purchase petrol from the refinery.
As a result, NNPC is no longer the sole off-taker, and marketers are now free to negotiate prices directly with Dangote Refinery.
