Nigerian Petrol Prices Rise Amid Discount Initiative

Petrol prices in Abuja increased by up to N29 per litre this week, with AA Rano and AYM Shafa raising their rates to N1,409 from N1,380 last week. Similarly, NNPC Retail outlets in Azhata and Jikwoyi Districts adjusted prices to N1,405, while MRS, a Dangote Refinery partner, set its price at N1,405 from N1,370.

Despite the Federal Government’s N66-per-litre discount program, which ran until October 31, 2026, these price hikes occurred. The discount, launched on October 1 to celebrate Nigeria’s 66th Independence Anniversary, lowered NNPC Retail’s price to N1,339 for digital payments via mobile applications.

The Federal Government clarified that the discount was funded through NNPC Retail’s profit margin reduction, not public funds, emphasizing it did not constitute a subsidy return.