Petrol depot prices rose to ₦1,900 per litre in Port Harcourt on Friday, October 9, despite the Federal Government’s announcement of a 30-day fuel price relief plan through the Nigerian National Petroleum Company Limited (NNPC).

The increase came as several petroleum depots raised their petrol prices across Lagos, Port Harcourt, Warri, and Calabar, while retail prices remained lower at some filling stations in Lagos. Brent crude oil also rose to $104.50 per barrel from $104.28, according to Vanguard. 

NIPCO raised its petrol depot price in Port Harcourt by ₦170, from ₦1,730 to ₦1,900 per litre. African Terminal, Ascon, Eterna, Gulf Treasure, Ibachem and Ibeto also increased their prices from ₦1,750 to ₦1,900 per litre.

In Lagos, Masters raised its depot price from ₦1,303 to ₦1,350 per litre, while Matrix increased its price from ₦1,330 to ₦1,360. In Calabar, Matrix raised its price from ₦1,315 to ₦1,370 per litre, while several depots in Warri increased their prices to ₦1,360 per litre. 

At the retail level, NNPC sold petrol at ₦1,360 per litre at its filling stations in Lagos and surrounding areas, while MRS Oil and 11 Plc sold at ₦ 1,338 per litre. Independent marketers charged between ₦1,368 and ₦1,400 per litre, depending on location.

The latest increases followed the Federal Government’s October 8 announcement that NNPC Retail would temporarily forgo its petrol retail profit margin and sell fuel at cost for 30 days to reduce the impact of rising global oil prices on Nigerian households and businesses.

Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele announced the measure, which President Bola Tinubu backed. The government said the arrangement would prioritise public transport operators and encourage other fuel marketers to consider similar measures. 

However, NNPC’s existing ₦66-per-litre discount, introduced on October 1 for Nigeria’s 66th Independence Anniversary, is a separate initiative. The company confirmed on October 9 that the discount would continue across its retail outlets until October 31.

The discount has also raised questions about accessibility. Punch reported on October 10 that checks at NNPC stations in Abuja found petrol selling at ₦1,405 per litre for customers paying directly at the pump, compared with ₦1,339 for customers using the company’s mobile application. The report said motorists needed to use the app and pay digitally to receive the ₦66 reduction. 

The government has maintained that the discount does not amount to a return of the fuel subsidy removed in May 2023. Oyedele said NNPC Retail was funding the reduction from its own retail margin rather than public funds.

Separately, the government proposed a petrol landing-cost ceiling of about ₦1,350 per litre, under which refiners and importers would absorb temporary increases in costs and recover them when market conditions improved. The proposal was announced amid rising international oil prices and concerns about their effect on domestic fuel costs. 

NNPC’s 30-day relief arrangement is intended to provide temporary support while fuel prices remain exposed to global market movements. However, the latest depot increases show that the intervention has not established a uniform petrol price across Nigeria.