The Nigerian National Petroleum Company (NNPC) Limited has increased the retail price of premium motor spirit (PMS), commonly known as petrol, at its outlets in Lagos.
This development comes weeks after the national oil company had reduced the price to N925 per litre in Lagos and N965 per litre in Abuja on December 23, 2024.
At that time, the price was dropped from N1,025 per litre in Lagos and N1,040 per litre in Abuja.
However, as of Tuesday, observations by Okay.ng revealed that the petrol price at most NNPC retail outlets in Lagos has been increased to N960 per litre, marking a N35 increment from the December adjustment.
The reasons behind the latest price adjustment remain unclear, as the NNPC is yet to issue an official statement explaining the hike.
