NNPC Makes Significant Cut In Fuel Prices Across Abuja

NNPC Makes Significant Cut In Fuel Prices Across Abuja

A noticeable reduction in petrol prices has been reported at Nigerian National Petroleum Company Limited (NNPCL) retail outlets within the Federal Capital Territory (FCT), Abuja. Journalists visiting various NNPCL stations observed that the price of Premium Motor Spirit (PMS),..NNPC Makes Significant Cut In Fuel Prices Across Abuja

commonly known as petrol, dropped from ₦1,060 to ₦1,040 per litre, reflecting a ₦20 decrease.

An attendant at the NNPCL station on the Kubwa expressway confirmed that the price adjustment occurred on Saturday morning. Motorist Ezekiel Njoku also confirmed the reduction, emphasizing that the ₦20 cut was significant and called for further price reductions.

With this change, NNPCL petrol stations in Abuja will now sell petrol at ₦1,040 per litre. However, prices at other stations may differ, with some outlets charging as high as ₦1,115 per litre, depending on their location.

This adjustment follows the recent resumption of operations at the Port Harcourt refinery in November 2024, which had been anticipated to contribute to lower fuel prices. Additionally, oil marketers, alongside industry groups like the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association (PETROAN), suggest that sector deregulation and operational changes are driving these price shifts.

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