The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (petrol) to ₦1,405 per litre from ₦1,370 per litre.
Multiple independent checks by Nigerian media outlets on Friday, 16 October 2026, confirmed the new rate at NNPCL filling stations. The adjustment represents a ₦35 per litre rise. Attendants at several outlets indicated the change was announced on Thursday and took effect on Friday. NNPCL has not issued a public statement explaining the reason for the increase.
This follows a recent pattern of volatility. Earlier in the week, NNPCL had reduced the price back to ₦1,370 after a brief rise to ₦1,405 over the previous weekend.
The latest hike occurs amid public discussion of a proposed fuel price discount announced by the Minister of Finance. The minister had spoken of a fixed gantry price around ₦1,375 per litre, with earlier references to lower consumer rates at NNPCL outlets. However, the announced relief has not been uniformly reflected at the pumps.
Motorists and marketers continue to face fluctuating prices across stations, with independent operators also adjusting rates in recent days. The development adds to ongoing pressure on transportation and living costs for many Nigerians.
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