In a welcome move for motorists and businesses, the Nigerian National Petroleum Company Limited (NNPC) has officially reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦935 per litre at its filling stations across Abuja. This adjustment marks a slight but significant drop from the previous price of ₦950.
The new pricing was confirmed over the weekend, following a broader market trend that has seen a steady decline in fuel prices, largely influenced by the Dangote Petroleum Refinery’s recent ex-depot price reduction. Dangote slashed its ex-depot rate from ₦865 to ₦835 per litre, prompting several partner marketers — including MRS, AP, Heyden, Optima Energy, and Tecno Oil — to adjust their pump prices to between ₦890 and ₦920, depending on the region.
In addition to the price slash, NNPC recently opened new filling stations in Abuja and Bauchi. The launch was marked with a special customer appreciation event where over 200 motorcycle riders in Abuja received free five-litre petrol vouchers.
This latest price review is expected to offer some relief to consumers amid persistent economic pressures and may signal increased competition and stability in the downstream petroleum market.
Stay tuned for more updates on fuel prices and economic trends.
