The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS) at its retail outlets, bringing slight relief to consumers.
As of Saturday, NNPCL filling stations in Abuja, including locations such as Zone 6 along Kubwa Expressway and Wuse Zone 4, adjusted their petrol prices downward from N945 to N910 per litre — a N35 reduction.
This adjustment comes just days after Dangote Refinery announced a drop in its petrol ex-depot price from N880 to N840 per litre, attributed to a decline in global crude oil prices.
Following suit, members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) also reduced their pump prices. In Abuja, prices have been lowered to between N930 and N940 per litre, down from the previous range of N945 to N975. In Lagos, the pump price dropped from N925 to N890 per litre.
The coordinated price reductions reflect the ongoing impact of international market dynamics on Nigeria’s downstream oil sector and offer cautious optimism for further price stability.
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