Petrol prices across Nigeria are expected to rise as fuel importers have announced a new depot rate of N1,350 per litre, up from the current N1,230 per litre.
POLITICS NIGERIA reports that the new development is likely to increase the cost of petrol at filling stations nationwide.
According to industry sources, importers have already informed petroleum marketers of the new depot price, which is expected to take effect today, July 17.
The increase reflects the rising cost of imported petrol cargoes and means marketers purchasing products from importers will have to pay more before selling to consumers. As a result, motorists and businesses are expected to face higher fuel costs in the coming days.
The development comes shortly after the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) issued a fresh round of fuel import licences for the third quarter of 2026. The licences permit selected companies to import petrol and diesel between
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