Filling stations belonging to the Nigerian National Petroleum Corporation Limited (NNPCL) have increased the pump price of fuel.

The product which previously sold for N897 in Abuja, the nation’s capital, currently sells for N1,030.

It was observed at an NNPC outlet in Maitama where motorists queued up to purchase the product amid complaints.

At another NNPC station in Gudu, still in Abuja, motorists queued up while waiting for attendants to commence sale.

When our reporter asked an attendant if the station was out of stock, she responded saying they had fuel but the management was waiting for the metres to be adjusted to reflect the current price.

Asked how much, she responded “N1,030 per litre.”

In Lagos, fuel which previously sold for N885 per ltire is now being sold at N998 amid long queues.

The development comes 24 hours after it was reported that there is a likely pump price increase as a result of NNPCL’s exit as a middleman in the Dangote Refinery purchase deal.

This implies that the national oil company will no longer cover the price gap between the facility’s price and the selling price to retailers, previously absorbing a subsidy of N133 per litre.

The NNPCL’s decision is seen as a crucial shift towards a fully deregulated oil market.