The Nigerian National Petroleum Company Limited (NNPC Ltd) has raised the pump price of petrol at its filling stations to ₦1,405 per litre, adding to concerns over the cost of fuel as Nigerians await the implementation of a proposed government-backed price reduction.

The latest increase represents an additional ₦35 per litre, up from the previous rate of ₦1,370. The revised price reportedly took effect on Friday, October 16, following an announcement to filling station operators a day earlier.

The development has drawn attention because it comes amid ongoing discussions about a proposed petrol price arrangement announced by the Federal Government.

Minister of Finance, Taiwo Oyedele, had earlier disclosed plans for a fixed petrol gantry price of ₦1,375 per litre, raising questions about how the proposal would affect prices paid by motorists at retail outlets.

With NNPC’s latest adjustment, the company’s pump price now stands ₦30 above the proposed gantry rate. However, the figures represent different stages of fuel distribution, meaning the difference does not necessarily indicate a direct contradiction between the two arrangements.

As of the latest reports, NNPC had not publicly provided an explanation for the new price increase.

The adjustment also comes against the backdrop of public debate over the Federal Government’s proposed petrol discount, particularly whether the arrangement would offer meaningful relief to consumers facing elevated transportation and living costs.

The government has maintained that the proposed discount should not be interpreted as a return to the former fuel subsidy regime.

Until further clarification emerges from the relevant authorities, motorists may continue to seek answers about the timing, scope and expected impact of the proposed price arrangement, as well as the reasons behind NNPC’s latest increase.