The Nigerian National Petroleum Company Limited (NNPC Ltd) has increased its petrol pump price to ₦1,405 per litre from ₦1,370, marking another ₦35 hike amid controversy over the implementation of a recently announced fuel discount.
Checks by Daily Post on Friday, October 16, 2026, showed that the state-owned oil company had raised its petrol price following an adjustment reportedly announced on Thursday and implemented the following day.
Several fuel attendants, who spoke to the newspaper on condition of anonymity, confirmed that the new price had taken effect at NNPC filling stations.
The latest increase represents a ₦35 adjustment per litre, although NNPC has yet to publicly explain the reason for the decision.
Another Price Reversal Raises Questions
The latest development comes days after NNPC reversed an earlier price increase and returned its pump price to ₦1,370 per litre on Monday.
The company had previously raised the price to ₦1,405 per litre before reducing it again, only to restore the higher price on Friday.
The repeated adjustments have added to uncertainty in the downstream petroleum market, where motorists and businesses continue to grapple with changing fuel prices.
The latest increase also comes amid questions about the practical impact of the fuel discount announced by NNPC, particularly whether consumers are receiving the expected relief at the pump.
Fuel Discount Controversy
NNPC had announced a temporary petrol discount as part of efforts to offer customers some relief from high fuel costs.
However, the latest pump price increase has renewed questions about how the discount operates alongside changes in the company’s displayed retail prices.
While a discount may reduce the effective price paid by eligible customers, its actual benefit depends on the terms of the offer, the payment method required and the price from which the discount is calculated.
NNPC has not publicly provided an explanation for the latest ₦35 increase in the report, leaving motorists seeking clarification about the relationship between the price adjustment and the discount programme.
Proposed ₦1,375 Gantry Price
The development also follows a statement attributed to the Minister of Finance, Taiwo Oyedele, who reportedly announced on Thursday a proposed fixed petrol gantry price of ₦1,375 per litre ahead of the January 16, 2027, presidential election.
The proposed gantry price has introduced another dimension to the ongoing discussion about petrol pricing, as consumers and market participants await clarification on its scope and implementation.
A gantry price refers to the price at which petroleum products are sold from a depot or loading facility to marketers. It is distinct from the final retail price paid by motorists, which may include transportation, distribution and retail operating costs.
Consequently, a proposed gantry price of ₦1,375 per litre does not automatically mean that petrol must be sold at the same price at every filling station.
Further clarification is needed on the proposal’s precise terms, its legal and operational framework, and how it would affect prices across the country.
Implications for Nigerians
The latest increase could add to the financial pressure on households, transport operators and businesses that depend on petrol for transportation and power generation.
Higher petrol prices can raise commercial transport fares and distribution costs, potentially contributing to higher prices for food and other essential goods.
For small businesses that rely on petrol-powered generators, repeated pump price adjustments can also make operating expenses more difficult to predict.
The timing of the increase is particularly significant as Nigeria approaches the 2027 general elections, when economic conditions, household purchasing power and the cost of living are likely to feature prominently in public debate.
NNPC Yet to Explain Increase
As of the publication of the Daily Post report on Friday, October 16, NNPC had not publicly explained why it raised its pump price by ₦35 per litre or clarified how the adjustment relates to its announced discount.
The immediate questions concern the basis for the latest increase, the conditions under which customers can benefit from the discount, and the relationship between the retail price and the proposed gantry price.
Until NNPC provides further clarification, motorists will have to contend with another change in pump prices amid continuing uncertainty over the promised fuel price relief.
