By NIGERIANS can now heave a sigh of relief as the Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of petrol following improved supply from the Dangote Refinery.
The state-owned oil firm on Saturday adjusted the retail price of Premium Motor Spirit (PMS) to ₦945 per litre, down from ₦955, marking a ₦10 reduction.
Checks revealed that the new price has already taken effect at NNPCL retail outlets in Gwarimpa and Wuse Zone 4, Abuja.
Similarly, Eterna Filling Station and other major marketers within the Federal Capital Territory have also adjusted their pump prices to ₦945 per litre, aligning with the trend of easing supply constraints.
The latest development comes after several weeks of fuel price fluctuations triggered by supply glitches at the Dangote Refinery, which had led to a nationwide hike.
Industry sources say the improved distribution of refined petrol from the Dangote facility and increased imports by petroleum product importers have contributed to the current price stability.
Recall that President Bola Ahmed Tinubu recently approved a 15 per cent import tax on petrol and diesel — a fiscal policy expected to impact prices in the coming months.
For now, however, motorists and consumers are expressing relief at the modest price drop, which many hope signals a gradual return to normalcy in the downstream petroleum sector.
What's your reaction?
