The price of petrol at various Nigerian National Petroleum Company Limited (NNPC Ltd) outlets in Abuja rose to N1,030 per litre on Wednesday.
This increase follows NNPC’s decision to end its exclusive purchasing agreement with Dangote Refinery.
According to a report by Premium Times, NNPC is no longer the sole off-taker from the refinery, allowing other marketers to negotiate directly for petrol purchases.
This shift aligns with the current practices for fully deregulated products, enabling refineries to sell directly to marketers based on a willing buyer, willing seller arrangement.
As a result, NNPC Ltd outlets in Abuja’s Central area adjusted their pump price to N1,030 per litre on Wednesday morning.