The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), popularly known as petrol, from ₦955 to ₦945 per litre following the resolution of recent supply challenges at the Dangote Refinery.
Checks by Daily Post on Saturday revealed that the new price adjustment has been implemented across several NNPCL retail outlets in Abuja, including stations in Gwarimpa and Wuse Zone 4.
The latest ₦10 reduction comes after weeks of supply disruptions that had triggered nationwide fuel price hikes and long queues at filling stations.
Similarly, other marketers such as Eterna and the Nigerian Filling Station in Abuja have also reviewed their petrol prices downward to ₦945 per litre, aligning with NNPCL’s new rate.
Industry sources attribute the development to improved product availability from the Dangote Refinery, which has ramped up output after temporarily slowing production due to logistical hitches earlier in the month.
The refinery, which plays a critical role in Nigeria’s domestic fuel supply chain, had experienced a supply glitch more than two weeks ago, leading to a brief spike in retail prices nationwide.
Meanwhile, the price adjustment comes amid ongoing discussions about the impact of President Bola Ahmed Tinubu’s recent approval of a 15 per cent import tax on petrol and diesel—an economic policy move analysts warn could exert upward pressure on fuel costs in the coming weeks.
With the latest price cut, motorists are expressing cautious optimism that the stability at the Dangote Refinery will help ease the cost of fuel and reduce the strain on transportation and commodity prices across the country.
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