Nigerians Jubilate As NNPC Cuts Fuel Price To N1,130 In Lagos And N1,165 In Abuja

Nigerians Jubilate As NNPC Cuts Fuel Price To N1,130 In Lagos And N1,165 In Abuja

Nigerians Jubilate As NNPC Cuts Fuel Price To N1,130 In Lagos And N1,165 In Abuja

The Nigerian National Petroleum Company Limited (NNPC) has reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, at its retail outlets in Lagos and Abuja.

The new pricing took effect on Wednesday, with petrol now selling at ₦1,130 per litre in Lagos and ₦1,165 per litre in Abuja.

This represents a ₦100 reduction from the previous pump price of ₦1,230 per litre in Lagos, while motorists in Abuja will now pay ₦95 less than the former price of ₦1,260 per litre.

Checks at several NNPC filling stations confirmed that the new prices have already been implemented. Outlets located along Isheri Oshun Road, Apple Junction, and Ago Palace Way in Lagos were observed selling petrol at the updated rate.

Similarly, NNPC stations in the Federal Capital Territory, particularly in Jabi and Wuse, have also adjusted their pumps to the new ₦1,165 per litre price.

The reduction comes as many private oil marketers are yet to reflect the recent drop in gantry prices announced by the Dangote Petroleum Refinery.

Earlier, the refinery reduced its gantry price by ₦100 per litre, bringing it down to ₦1,075 per litre.

The development follows a decline in global crude oil prices after earlier increases triggered by tensions in the Middle East involving the United States, Iran, and Israel.

The crisis had raised concerns over possible disruptions to oil shipments through the strategic Strait of Hormuz. However, oil prices began to ease after U.S. President Donald Trump indicated that the conflict could soon come to an end.