The Nigerian National Petroleum Company Limited (NNPCL) has reduced its retail pump price for petrol by N95 per liter, effective immediately, following a recent reduction in the wholesale price by the Dangote Refinery.
As of Wednesday, NNPCL filling stations in Abuja and surrounding areas are now selling petrol at N1,165 per liter, down from N1,260 per liter. The price adjustment has been implemented at several outlets in the capital, including those in Jabi, Lifecamp, Wuse Zone 5, and Zone 4. Automotive Gas Oil (diesel) remains priced at N1,535 per liter at NNPCL stations.
This move by the state-owned oil marketer aligns with similar reductions across the sector. Other major retailers have also lowered their prices, with NIPCO, AP, and AA Rano now selling petrol at N1,195, N1,200, and N1,223 per liter, respectively. An anonymous manager at MRS filling station confirmed to Media Talk Africa that his outlet will reduce its price by N100 to N1,167 per liter starting Thursday.
The series of price cuts originates from Dangote Refinery’s announcement that it had lowered its ex-depot, or gantry, price for petrol to N1,075 per liter. This wholesale price reduction is attributed to a decline in global crude oil costs. As of the reporting period, Brent crude was priced at $91.76 per barrel, while West Texas Intermediate stood at $86.86 per barrel.
This development marks a significant shift in Nigeria’s domestic fuel market, which has been highly sensitive to exchange rates and international prices since the removal of petroleum subsidies in 2023. The country’s reliance on imported fuel has historically made local prices volatile. The commencement of operations at the Dangote Refinery, Africa’s largest, is progressively altering this dynamic by providing a substantial local supply source. A lower refinery gate price exerts downward pressure on the entire supply chain, from wholesalers to retailers.
For Nigerian consumers and businesses, the reduction offers temporary relief from transportation and operational costs. The extent to which these retail savings are sustained will depend on continued stability in the foreign exchange market and global oil prices, as well as the competitive response of all industry players. The current price adjustments reflect an initial market response to the new supply reality, with further revisions possible as the Dangote Refinery increases its production and distribution footprint nationwide.
