BREAKING: NNPCL Reduces Petrol Price to N965 in Abuja

NNPCL Blocks Dangote Refinery’s Attempt to Amend N100b Import License Lawsuit
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Despite the price adjustment at NNPCL stations, other independent and major marketers were observed selling petrol at rates between N1,030 and N1,070 per litre in various locations across Abuja.

Abuja, Nigeria – The Nigerian National Petroleum Company Limited (NNPCL) has reduced the retail price of Premium Motor Spirit (PMS), commonly known as petrol, to N965 per litre at its outlets in Abuja.

This marks the second price reduction in less than two weeks, following an earlier cut from N1,060 per litre.

A visit to major NNPCL retail outlets in the Federal Capital Territory, including those at Wuse Zone 4 and Olusegun Obasanjo Way, Central Area, confirmed the new pricing. The development has been welcomed by commuters, with many forming long queues to take advantage of the lower price.

A driver who spoke to REPORT AFRIQUE expressed relief at the price drop but urged NNPCL to ensure uniformity across all stations for wider accessibility.
“Yes, NNPC has reduced its price to N965. I bought it this morning, but the queue is too long. Maybe because other stations are selling at different prices,” the driver said.

Despite the price adjustment at NNPCL stations, other independent and major marketers were observed selling petrol at rates between N1,030 and N1,070 per litre in various locations across Abuja.

In a related development, the Independent Petroleum Marketers Association of Nigeria (IPMAN) announced on Sunday that its members would sell petrol at N935 per litre starting Monday. According to IPMAN’s National President, Maigandi Garima, the reduction follows Dangote Petroleum Refinery’s new ex-depot price and a uniform pricing arrangement, which will allow marketers to sell at N935 while incurring a logistics cost of N36 per litre.

Further details on the situation are expected as developments unfold.


Copyright 2024 REPORT AFRIQUE (RA). Permission to use portions of this article is granted provided appropriate credits are given to www.reportafrique.com and other relevant sources.This Article is Fact-Checked. See Policy.
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