Nigerian National Petroleum Company Limited (NNPCL) and other fuel retailers have lowered the pump price of premium motor spirit, commonly known as petrol, across the country. In Abuja, NNPCL outlets now sell petrol at N915 per litre, down from N920—a reduction of N5 per litre. Other retailers, including MRS and BOVAS, have also cut their prices to N910 per litre, down from N945.
Several stations—AYM Shafa, NIPCO, Optima, Mobil, Ranoil, and Empire—are offering petrol in the range of N920 to N937 per litre. The ex‑depot price at refineries such as Dangote, Eterna, Aiteo, and BOVAS varies between N822 and N824.50 per litre.
This is not the first recent price adjustment. Over the past two weeks, NNPCL has revised its pump price twice, achieving a cumulative reduction of N30 per litre from the original N945. The latest cuts provide relief to motorists and commuters who have been burdened by high fuel costs. Lower petrol prices are expected to benefit the economy by reducing transportation expenses and related costs.
The Nigerian government continues efforts to stabilise the fuel market and ease the financial strain on citizens. The recent reductions by NNPCL and other retailers represent a positive step, and it is hoped the trend will persist. As the fuel market evolves, stakeholders must closely monitor developments and make necessary adjustments to keep petrol prices stable and affordable for everyone.
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