Nigeria's state-owned oil company, NNPC Ltd, has increased petrol prices by over 15%, marking the second hike in less than a month and the exit from a costly subsidy programme that has strained its finances.

BBC News Pidgin tori pesin see say di national oil company don adjust dia fuel price to 998 naira ($0.52) for Lagos and 1,030 for Abuja.

Ambassador Olufemi Ajadi Oguntoyinbo, has declared that Nigerians have suffered enough due to the frequent increases in the price of Premium Motor Spirit (PMS), also known as petrol, since the current administration came into power.

NNPCL Petrol stations, and other marketers today, increased their pump prices for the fourth time since President Tinubu's administration came on board. The price spiked by 15% to N1,030 per litre as the NNPCL backed out as a middleman in the petroleum industry setting the stage for direct price negotiations between marketers and the refinery.

Nigerians are reacting to the new fuel price at the Nigerian National Petroleum Company Limited (NNPC Ltd) as the federal government begins full deregulation.

The Nigerian Government has said the decision of the Nigerian National Petroleum Company Limited, NNPCL, to increase petrol price to N1,030 per liter is based on economic realities. The Minister of Information and National Orientation,

Reports suggest that fuel stations owned by independent marketers are also adjusting their prices, with many crossing the N1,000 per litre threshold. ・NNPC raised petrol price to N1,030 per litre in Abuja and N998 in Lagos.