NNPC Raises Petrol to ₦1,405; App Users Pay ₦1,339

NNPC Limited has raised the pump price of petrol at its retail stations to ₦1,405 per litre from ₦1,370, with the new price in force from Friday, 16 October 2026, National Daily reported. Customers who pay through the NNPC Fuel App still get a ₦66 discount, which brings the price to ₦1,339 in Abuja. But a Sunday PUNCH survey across more than a dozen states found many motorists paying ₦1,400 to ₦1,470 at NNPC outlets, and transport fares still rising. Here is what changed, why, and what it means for your budget.

What changed this week

NNPC has not publicly explained the ₦35 increase, a rise of about 2.6% by our calculation. It came after a brief return to the lower price earlier in the week, fuel attendants told National Daily.

The app discount is separate. NNPC began it on 1 October to mark Independence Day and, in a statement on 9 October, extended it to 31 October. The company said the discount does not create a uniform national price and does not change market-based pricing. NNPC spokesman Andy Odeh told Sunday PUNCH that not every NNPC station is in the scheme and that customers must download and register on the app to qualify.

What motorists are paying

Prices reported by Sunday PUNCH at NNPC outlets on or around 17 October:

In Lagos, the Joint Drivers Welfare Association said two NNPC stations, at Ijanikin and Iyana-Iba, were still selling at ₦1,355. In Kano, one tricycle rider said he paid ₦1,440 at a private station, about ₦10 to ₦20 above nearby NNPC outlets.

Why pump prices are where they are

Petrol prices in Nigeria have been market-based since the subsidy ended in May 2023. They follow crude oil prices, the exchange rate and refining and shipping costs. The latest Energy Bulletin from the Major Energies Marketers Association of Nigeria (MEMAN), dated 16 October, gives the building blocks:

• Dangote refinery: gantry price ₦1,325 per litre; coastal price ₦1,305.
• Imported petrol: estimated import parity price of ₦1,325.38 per litre on a 30-day average, and ₦1,246.36 on spot terms at the ASPM jetty.
• Lagos depots: ex-depot prices of ₦1,335 to ₦1,350 per litre.
• Crude oil: Brent averaged $106.18 a barrel over seven days.
• Lowest Lagos pump price tracked by MEMAN: ₦1,378.

By our calculation, NNPC's new ₦1,405 pump price is ₦80 above Dangote's gantry price. That margin covers transport, storage, dealer costs and profit. Even so, MEMAN's data shows Nigerian petrol remains cheaper than in Ghana, where the pump price equivalent was about ₦2,163.59 per litre.

The proposed ₦1,350 ceiling

Separately, Finance Minister Taiwo Oyedele has said the government is negotiating a ₦1,350 per litre ceiling on petrol's ex-gantry or landing cost. Under the proposal, refiners and importers would absorb costs above the ceiling and recover them later, with monthly reviews, Legit.ng reported. Oyedele calls it price modulation, not a subsidy. MEMAN opposes the ceiling, warning that it could distort competition and affect supply.

Oyedele also defended NNPC's recent margin cut as "a time-bound commercial decision" and "not a subsidy paid for with public funds", ThisDay reported.

Fares keep climbing

For many Nigerians, the bigger issue is transport. Sunday PUNCH found:

• In Jigawa, the fare from Dutse to Hadejia rose from ₦3,000 to ₦4,000.
• In Minna, a trip to Abuja that cost ₦3,500 last year now costs ₦11,000, one traveller said, partly blaming poor roads.
• In Gombe, motorcycle trips that cost ₦500 now cost ₦800 to ₦1,000.
• A Jigawa tricycle rider said his daily earnings fell from ₦8,000 to about ₦4,000.

What this means for investors

• Inflation risk. Fuel and transport feed directly into food prices. Higher pump prices could slow the recent fall in inflation, which reached 14.63% in September.
• Oil prices cut both ways. Brent above $100 lifts government revenue and producers such as Aradel and Seplat, but raises costs for households and businesses.
• Watch the ceiling talks. A cap on landing costs could squeeze refiners' and importers' margins. Listed marketers such as TotalEnergies Marketing (₦518.40) and Conoil (₦210.00) closed unchanged on 16 October.
• Check the app. On a 50-litre fill-up, paying ₦1,339 instead of ₦1,405 saves about ₦3,300, our calculation shows.

This is for information only and is not investment advice.

FAQ

What is the NNPC petrol price today?

NNPC raised its regular pump price to ₦1,405 per litre from ₦1,370 on 16 October 2026, with app users paying ₦1,339 in Abuja. Prices vary by location, from ₦1,355 reported at two Lagos stations to as much as ₦1,505 in Minna.

How do I get the NNPC ₦66 discount?

You must download and register on the NNPC Fuel App, buy at a participating NNPC station and pay digitally. The discount runs until 31 October 2026.

What is Dangote's petrol gantry price?

MEMAN's 16 October bulletin listed Dangote's gantry price at ₦1,325 per litre and its coastal price at ₦1,305 per litre.

Sources

• National Daily, "NNPCL raises petrol price to ₦1,405 per litre amid discount controversy" (17 Oct 2026)
• Punch, "Petrol: Transporters raise fares, commuters groan" (18 Oct 2026)
• MEMAN Energy Bulletin, 16 October 2026
• Legit.ng, "Marketers unveil new petrol landing cost, Dangote, others revise PMS prices nationwide" (17 Oct 2026)
• ThisDay, "Oyedele: World markets have written off opposition, eyeing Tinubu's 2nd term" (18 Oct 2026)