Petrol Prices Continue Rising Despite Government Discount Promises in FCT

Motorists in the Federal Capital Territory (FCT) report ongoing increases in premium motor spirit (PMS) prices, contradicting federal assurances to protect consumers from rising costs. The government previously announced a 30-day discount for Nigerian National Petroleum Company Limited (NNPCL) fuel sales, with public transport operators receiving priority under the scheme.

Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, stated negotiations are underway to cap PMS ex-gantry costs at N1,350 per litre to stabilize pump prices. Dangote Petroleum Refinery adjusted its gantry price by N25, reducing the cost from N1,350 to N1,325. These actions follow the government’s pledge to cushion consumer impacts through price controls.