The Nigerian National Petroleum Company Limited (NNPCL) has lowered the pump price of premium motor spirit to N930 per litre, down from N945. This N10‑per‑litre reduction follows a decline in ex‑depot prices announced by Dangote Refinery and other depot owners. The new price is now being applied at NNPCL retail outlets in several locations, including Kubwa Expressway, Gwarimpa, Wuse Zone 4 and Zone 6.
Other stations have also adjusted their rates. Ranoil in Gwarimpa cut its price by N5, selling fuel at N935 per litre instead of N940. Meanwhile, MRS and AP Ardova stations in Abuja are dispensing petrol at prices ranging from N930 to N935 per litre.
The price cuts are linked to reduced ex‑depot rates from major suppliers: Dangote Refinery, Pinnacle and Aiteo have lowered their prices to N846, N845 and N844 per litre, respectively. Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria, warned that the ongoing petrol price war could trigger further reductions.
These developments are significant for consumers and the broader economy. Lower fuel costs can reduce transportation expenses, potentially easing the prices of goods and services. However, the market remains volatile, and additional adjustments may occur in the coming days. Continuous monitoring of the situation is essential to anticipate any further changes.
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