This price reduction comes just days after the Dangote Refinery and its partners slashed their petrol prices
NNPCL Cuts Petrol Price by ₦15 Amid Growing Market Competition
The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦15 per litre.
Checks across NNPCL filling stations in Abuja — including locations along Kubwa Expressway, Central Business District, and Wuse Zone 4 — revealed that the pump price has dropped from ₦910 to ₦895 per litre.
Reacting to the price cut, Abuja-based motorist Muhammad Ibrahim described the move as a necessary adjustment in line with market trends.
“It is long expected because other filling stations have reduced their petrol prices,” he said.
This price reduction comes just days after the Dangote Refinery and its partners slashed their petrol prices to ₦875 and ₦895 per litre in Lagos and Abuja respectively, intensifying market competition.
Other independent filling stations had also previously adjusted their prices, ranging between ₦900 and ₦910 per litre, in response to market forces.
Commenting on the shift, Chinedu Ukadike, spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), noted that the liberalisation of the downstream oil and gas sector is beginning to yield results.
“Marketers are now competing favourably with NNPCL,” Ukadike said, while also criticizing what he described as NNPCL’s lingering monopoly, especially amid ongoing debates about the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries.
The latest development signals a growing price war in Nigeria’s fuel market, as private players ramp up operations and challenge NNPCL’s longstanding dominance. Read More
