The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol from ₦1,370 to ₦1,405 per litre at its filling stations, representing an increase of ₦35.
The new price took effect on Friday, October 16, 2026, following a notification reportedly sent to filling stations a day earlier. The adjustment reverses the reduction made on Monday, October 12, when the company lowered its price to ₦1,370 per litre after an earlier increase to ₦1,405.
The latest hike comes amid public concerns over the Federal Government’s proposed measures to ease the burden of rising fuel prices, including a petrol discount initiative introduced through NNPC.
Under the discount arrangement, eligible motorists who use the NNPC mobile application and pay digitally can access petrol at a discounted rate of ₦1,339 per litre, representing a reduction of ₦66 from the prevailing pump price. The initiative has been extended until October 31, 2026.
Meanwhile, Finance Minister Taiwo Oyedele recently disclosed a proposal to establish a fixed petrol gantry price of ₦1,375 per litre as part of efforts to stabilise fuel prices ahead of the January 16, 2027 presidential election. The proposed gantry price applies to petrol supplied from depots or loading facilities, rather than the final retail price paid by consumers.
As of the latest reports, NNPC had not officially explained the reason for the latest increase or indicated whether another price adjustment was imminent.
The development has raised fresh concerns about the impact of fluctuating petrol prices on transportation costs, household expenses and businesses across the country.