ABUJA, Nigeria — The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit, commonly known as petrol, at some of its retail outlets in Abuja, bringing the price down from N1,299 to N1,250 per litre.
The latest adjustment represents a N49 reduction per litre and comes amid growing competition among fuel retailers as several filling stations across the Federal Capital Territory and neighbouring areas have lowered their prices in recent days.
A market survey conducted by DAILY POST on Tuesday showed that NNPCL outlets in Gwarimpa, Kubwa Expressway, Wuse Zone 4 and Wuse Zone 6 were selling petrol at N1,250 per litre. The reduction marks a shift from the previous N1,299 price being charged at the affected outlets.
The development follows reports that motorists had increasingly turned away from some NNPCL retail stations because of their relatively higher pump prices compared with competing outlets. The latest adjustment therefore places the state-owned oil company closer to prevailing market prices in Abuja and its environs.
Before NNPCL’s latest move, several independent filling stations had already begun cutting their pump prices. MRS and other retailers, supported by crude supplies from the Dangote Refinery, had reduced prices by between N25 and N50 per litre, depending on location and outlet.
Those reductions pushed petrol prices at some stations to between N1,210 and N1,275 per litre, creating a wider price gap between competing retailers and NNPCL outlets.
With the latest NNPCL adjustment, motorists in Abuja and surrounding areas are now buying petrol at prices generally ranging from N1,210 to about N1,300 per litre, depending on the filling station.
The price movement highlights the growing influence of competition in Nigeria’s downstream petroleum market following changes in the sector and increased participation by private refiners and fuel marketers.
The reduction is also expected to provide some relief to motorists who have been closely monitoring pump prices amid persistent concerns over transportation costs and the wider impact of fuel prices on household expenses and businesses.
However, the actual price motorists pay may continue to vary from one location to another because individual retailers determine their pump prices based on supply costs, transportation expenses, operating costs and prevailing market conditions.
Industry watchers are expected to monitor whether NNPCL’s latest reduction will trigger further price adjustments by other major retailers or lead to additional reductions across the downstream market.
For consumers, the immediate focus remains on whether the lower prices will be sustained and whether increased competition among fuel suppliers will eventually translate into broader and more consistent reductions at filling stations across the country.
The latest development comes as Nigeria’s fuel market continues to adjust to changing supply patterns, domestic refining capacity and competitive pricing among petroleum retailers.
