Retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL) adjusted the pump price of petrol Yesterday the 9th of October 2024 in Lagos and the Federal Capital Territory (FCT), Abuja.

In Lagos, our correspondent observed that many NNPCL outlets sold a litre of the essential commodity for ₦998, about ₦150 higher than the initial price of ₦855.

Also long queues were observed at various NNPCL outlets as the sudden increase set motorists and transporters in panic-buying mode.

Many filling stations not owned by the NNPCL immediately followed suit as they also incrementally adjusted their pump prices, with many selling as high as ₦1050 in many parts of Lagos.

The NNPCL has not commented on the sudden increase of roughly 15 to 20 percent seen at pumps nationwide. It marks the second of such hike in just over a month.  

Meanwhile The Nigeria Labour Congress and the Organised Private Sector have called for the immediate reversal of the hike in the pump prices of petrol, by the Nigerian National Petroleum Company Limited saying it will further deepen poverty in the country.