NNPCL explains how market forces drive new PMS prices to N835 in Lagos, N839 Abuja

*The Nigerian National Petroleum Company Limited explains the rationale behind the recent PMS price increments to N835 per litre in Lagos, and N839 in Abuja

Isola Moses | ConsumerConnect

Following the recent price hikes by the Dangote Petroleum Refinery, a Lagos, the Nigerian National Petroleum Company Limited (NNPCL) has increases petrol prices to N835 per litre in Lagos and N839 per litre in Abuja, FCT.

The company’s upward price adjustments represented an increase of N50 from N785 per litre in Lagos, and N20 from N815 per litre in Abuja.

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ConsumerConnect reports the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said the competition and subsidy removal had supported price stability nationwide in regard to significant price adjustments across NNPCL’s retail outlets in the country.

Checks at selected NNPCL retail outlets Wednesday, January 28, 2026, in Lagos confirmed that the state oil company has effected the new prices in both cities.

As fuel prices continue to rise in major cities, it is noted that both regulators and refiners have acknowledged that increased competition and market-driven mechanisms are fast shaping the downstream petroleum market in Nigeria.

Affirming the dynamics of market forces in driving PMS prices in the energy sector of the economy, the NMDPRA emphasised that market forces have continued to moderate fuel prices.

Saidu Mohammed, CEO of NMDPRA, January 28, 2026, reportedly said sustained competition, rather than subsidies, guarantees adequate supply and promotes affordability of petrol, diesel, and Liquefied Petroleum Gas (LPG) across the West African country.

Mohammed submitted: “Sustained competition, rather than subsidies, will guarantee adequate supply of petrol and gas at affordable prices for Nigerians.”

He equally explained that the current administration’s removal of the petrol subsidy since May 2023 has allowed market forces to operate effectively, improving efficiency throughout the downstream sector and supporting price stability.

Earlier in the week also, Dangote Refinery had announced prices increments in its ex-gantry price of petrol to N799 per litre.

The oil-refining company said its partner outlets, including MRS filling stations, would sell the Premium Motor Spirit (PMS), also call petrol at N839 per litre, up from N739.

Speaking on the development also, David Bird, Chief Executive Officer (CEO) of Dangote Petroleum Refinery, however, assured energy consumers that the facility would continue to supply the domestic market with about 50 million litres of petrol daily.

Bird stated that nationwide evacuation and distribution remain seamless.

The CEO of Dangote Refinery also said: “The refinery’s operational flexibility allows it to process a wide range of crude and intermediate feedstocks, ensuring uninterrupted PMS supply even during planned maintenance activities.”

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