In a move signaling potential relief for Nigerian motorists, the Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, from N935 to N910 per litre at its retail stations in the Federal Capital Territory. This N25 reduction, effective immediately in Abuja, comes as the state oil company faces increasing competition from the privately-owned Dangote Refinery, which recently slashed its ex-depot price to N825 per litre.
While the price adjustment has been implemented in Abuja, NNPC stations in Lagos, Port Harcourt, and other major cities continue to sell petrol at the previous rate of N935, creating temporary regional price disparities. The reduction marks NNPC’s first downward price review in six months and follows mounting pressure from domestic refining capacity that is gradually reshaping Nigeria’s fuel market dynamics.
Key Details of the Price Adjustment
✔ New Price: N910 per litre (5.3% decrease)
✔ Scope: Currently limited to Abuja retail stations
✔ Market Context: Dangote Refinery now selling at N825/litre to marketers
Why This Matters
► Consumer Impact: Potential savings for Abuja motorists
► Market Shift: First evidence of Dangote influencing NNPC pricing
► National Implications: May signal start of broader price reductions
What’s Next?
- Expected nationwide rollout within 7-10 days
- Possible further reductions if market competition intensifies
- Increased focus on fuel distribution logistics
