The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of petrol by ₦95 per litre following a similar price cut announced by the Dangote Petroleum Refinery.
The reduction was observed at NNPCL filling stations in Abuja and surrounding areas, where petrol is now selling for about ₦1,165 per litre, down from the previous ₦1,260 per litre. The adjustment took effect on Wednesday and reflects the impact of the refinery’s earlier decision to slash its gantry price.
Dangote Refinery had earlier reduced its ex-depot (gantry) price of petrol by ₦100, bringing it down from ₦1,175 to ₦1,075 per litre, a move that immediately influenced market prices among fuel marketers.
Following the adjustment by NNPCL, several independent fuel marketers have also begun revising their pump prices. Reports show that stations such as NIPCO, AP and AA Rano are now selling petrol between ₦1,195 and ₦1,223 per litre, while some outlets are expected to further adjust prices in response to market dynamics.
The development has raised hopes among motorists and consumers who have faced rising fuel costs in recent months. Analysts say the price drop is largely linked to the Dangote Refinery’s growing influence in Nigeria’s downstream petroleum market, which has started shaping pricing patterns for petrol supply across the country.
Industry observers note that further reductions could occur if crude oil prices decline or if more domestic refining capacity becomes available, potentially easing pressure on Nigeria’s fuel market in the coming months.
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