The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, at its retail outlets across Abuja.
According to reports, the new pump price is now N910 per litre, down from the previous N945. This N30 price cut has taken effect in NNPCL stations located in key areas such as Zone 6, Kubwa Expressway, Wuse Zone 4, and other parts of the capital city.
The price drop follows closely on the heels of a similar move by Dangote Refinery, which recently slashed its ex-depot petrol price from N880 to N840 per litre in response to declining global crude oil prices.
In the wake of these adjustments, members of the Independent Petroleum Marketers Association have also reduced their pump prices. In Abuja, prices have been adjusted to between N930 and N940 per litre, down from the previous range of N945 to N975. In Lagos, the price has dropped to N890 per litre from N925.
The coordinated reductions signal a broader trend in the Nigerian fuel market, driven by changes in international oil prices and domestic supply dynamics.
