The Nigerian National Petroleum Company Limited (NNPCL) has implemented a new reduction in the pump price of Premium Motor Spirit (PMS), following recent decreases in ex-depot prices by major suppliers, including the Dangote Refinery and several private depot operators.
By Thursday morning, motorists across Abuja began to notice the revised pricing at various NNPCL retail outlets. Stations located along the Kubwa Expressway, as well as those in Gwarimpa, Wuse Zones 4 and 6, and other parts of the Federal Capital Territory, adjusted their pump meters to reflect the new rate of ₦930 per litre, down from the previous ₦945. This represents a ₦10 reduction and marks one of the more significant adjustments in recent weeks.
The price revision was not limited to NNPCL stations. A number of private marketers across the capital city have also readjusted their prices in response to shifting market dynamics. For instance, some outlets, such as those operated by Ranoil, now sell petrol at ₦935 per litre, reflecting a modest reduction of ₦5. Others, including well-known brands like MRS and AP (Ardova), have lowered their pump prices to between ₦930 and ₦935 per litre, bringing them roughly in line with the revised NNPCL pricing.
These changes are linked to ongoing reductions in ex-depot prices—the rates at which depots sell fuel to marketers. The Dangote Refinery, alongside major depot operators such as Pinnacle and Aiteo, recently adjusted their ex-depot quotes downward by at least ₦10, with new prices reported in the region of ₦844 to ₦846 per litre. As suppliers compete more aggressively on pricing, marketers and filling stations have been quick to pass portions of the savings to consumers.
Industry analysts suggest that the competitive pressure among refiners and depot owners is intensifying, contributing to what many are now describing as a developing price war. Market observers believe this trend could result in further reductions at the pump if supply conditions remain stable and operators continue to undercut one another in order to maintain market share.
Petrol marketers have hinted that more price adjustments could occur in the coming days, especially if supply remains robust and transportation costs do not rise. With consumers feeling the impact of previous petrol price increases on transportation, inflation, and general living costs, any further reductions are likely to be welcomed across the country.
Overall, the latest cut in the NNPCL pump price signals a potentially shifting landscape in Nigeria’s downstream petroleum sector, one that may continue to evolve as competition deepens and more local refining capacity becomes active.
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