Fuel Relief in Abuja as Pump Prices Drop After Recent Surge
Motorists in the capital are breathing easier as the Nigerian National Petroleum Company Limited (NNPCL) and other fuel marketers slash petrol prices after last week’s hike.
NNPCL outlets now sell petrol at around N955 per litre—still above some rivals, but welcomed by consumers. Ardova stations have cut rates to N875, while Ranoil and Empire Energy in Gwarinpa have also trimmed their prices.
Industry sources link the cuts to reduced loading costs at private depots, with some ex-depot rates falling by up to N2 per litre. Financial analyst Dumebi Oluwole said the changes reflect global oil price movements.
With subsidies gone, petrol prices now reflect true import costs, giving Nigerians a taste of a fully deregulated fuel market.
