Gladness Gideon
The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of Premium Motor Spirit (PMS), popularly known as petrol, across its retail outlets in Lagos and Abuja.
A market survey conducted on Monday revealed that NNPC stations in Lagos were dispensing petrol for as low as N880 per litre—down from the previous N925—while stations in Abuja saw a reduction to N935 per litre from N950.
Specifically, at the NNPC station located at Apple Junction in Lagos, petrol was sold at N880 per litre, while the Ago Palace location dispensed at N905. Two stations along Idimu Road offered petrol for N910, with similar pricing observed at the Ikotun Road branch.
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In the Federal Capital Territory, stations at Airport Road, Lugbe, and the Federal Housing area of Kubwa reported a new pump price of N935 per litre.
This downward review in prices follows closely on the heels of a similar move by the Dangote Refinery, which recently cut its ex-gantry petrol price to N890 per litre. On April 16, Dangote Refinery confirmed that its major distribution partners had adjusted their pump prices accordingly, reducing the price to N890 per litre in Lagos from the previous N920.
The price cuts by both NNPC and Dangote are seen as a welcome relief to consumers amid prolonged concerns over the high cost of fuel across the country. However, stakeholders continue to call for more consistent and transparent pricing mechanisms within the downstream oil sector to ensure stability and affordability.