The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS) from ₦910 to ₦895 per litre, reflecting a ₦15 price cut.
A survey conducted on Saturday by DAILY POST at NNPCL filling stations in Kubwa Expressway, Central Business District, and Wuse Zone 4 in Abuja confirmed the new pricing.
The reduction follows recent price adjustments by Dangote Refinery and its partners, who lowered their fuel prices to ₦875 and ₦895 per litre in Lagos and Abuja, respectively. Other independent marketers have also pegged their prices between ₦900 and ₦910 per litre.
Reacting to the development, a motorist, Muhammad Ibrahim, described the price drop as long overdue, noting that other stations had already made similar adjustments. “It is long expected because other filling stations have reduced their petrol prices,” he said.
Industry experts say the change reflects increasing competitiveness in Nigeria’s downstream oil sector, following its liberalisation. Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), stated that marketers are now better positioned to compete with NNPCL.
Ukadike also criticized NNPCL’s continued dominance, citing unresolved issues surrounding the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries.
