Motorists in Jos, Plateau State, are paying between ₦1,420 and ₦1,492 per litre of petrol, a market survey by this newspaper has shown, amid a federal government intervention aimed at cushioning the impact of rising fuel prices.
PREMIUM TIMES’ checks at filling stations across the Plateau State capital on Wednesday, 14 October, showed that outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) sold petrol at ₦1,420 per litre, while other filling stations charged between ₦1,472 and ₦1,492.
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The findings come days after the federal government announced a temporary arrangement under which NNPCL Retail would forgo its retail profit margin and sell petrol at cost for an initial 30-day period.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the measures on 8 October during a briefing in Abuja on rising fuel prices and the government’s response to increasing energy costs.
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The government subsequently issued a statement confirming the arrangement.
Under the initiative, NNPCL Retail agreed to forgo its retail profit margin and sell petrol at cost for 30 days, with priority given to public transport operators.
The government said the measure was intended to provide temporary relief to households and businesses affected by rising fuel prices.
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At the same briefing, Mr Oyedele said the government was negotiating a ceiling of ₦1,350 per litre on petrol’s landing or ex-gantry cost under a proposed price-modulation mechanism.
The proposed ceiling was not a fixed nationwide pump price. Rather, it was intended to help moderate the impact of fluctuations in international crude oil prices and exchange rates on petrol costs.
The distinction is important in assessing the prices recorded in Plateau, where NNPCL outlets surveyed sold petrol at ₦1,420 per litre.
At other filling stations surveyed, motorists paid ₦52 to ₦72 more per litre than at NNPCL outlets.
However, some motorists who spoke to this newspaper said they preferred purchasing petrol from other outlets, citing concerns about the accuracy of dispensing pumps at some NNPCL stations.
They alleged that some pumps did not dispense the quantity of petrol indicated on their meters, raising concerns about whether customers received the full quantity for which they paid.
The allegations could not be independently verified as of the time of filing this report.
Independent testing by the relevant authorities would be required to establish whether the pumps dispense accurate quantities.
The price differences also have financial implications for motorists and commercial transport operators who depend heavily on petrol.
ALSO READ: NNPC filling stations to sell petrol at landing cost to cushion global oil price shocks — Presidency
A motorist buying 40 litres at ₦1,492 per litre would pay ₦59,680, compared with ₦56,800 at ₦1,420 per litre. The difference amounts to ₦2,880 for the same quantity of fuel.
For commercial drivers who purchase petrol frequently, such differences can increase operating costs and put additional pressure on transport fares and household spending.
The findings highlight the importance of transparent retail pricing and effective consumer protection as the federal government implements measures to moderate the impact of rising fuel costs.
As of the time of filing this report, NNPCL’s response to the price differences and the allegations concerning its dispensing pumps had not been obtained.
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