BREAKING: Fuel Price Surges to N1,030

The price of petrol has increased to N1,030 per litre at several Nigerian National Petroleum Company Limited (NNPC Ltd) stations in Abuja as of Wednesday.According to *Premium Times*, the hike followed NNPC’s decision to end its exclusive purchasing agreement with Dangote Refinery.

As a result, NNPC is no longer the sole buyer from the refinery, allowing independent marketers to negotiate prices directly with Dangote Refinery.

This change reflects the standard approach for fully deregulated products, where refineries can sell to marketers based on a willing buyer, willing seller arrangement.