NNPCL Reduces Petrol Price

The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of petrol at its Abuja retail outlets, bringing some relief to residents and motorists.

Petrol now sells for ₦1,040 per litre, marking a ₦20 decrease from the previous price of ₦1,060 per litre.

Reports from NNPCL stations in the Federal Capital Territory confirmed the adjustment, which took effect on Saturday morning. However, other filling stations in the area continue to sell petrol at rates as high as ₦1,115 per litre, depending on the location.

This petrol price revision comes amid optimism surrounding the recent commencement of operations at the state-owned Port Harcourt refinery, which began production in November 2024.

Industry stakeholders, including oil marketers and trade associations, have expressed hope that increased local production from the Port Harcourt refinery and the much-anticipated Dangote refinery will lead to more competitive fuel prices in the coming months.

For now, motorists in Abuja welcome the slight reduction in petrol price as a step toward more affordable fuel costs nationwide.
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