By Abigail Philip David
The Nigerian National Petroleum Company Limited (NNPCL) has lowered the retail price of petrol to N965 per litre in Abuja. This marks the second price reduction in less than two weeks, following a previous drop from N1,060 earlier this month.
A survey conducted on Monday confirmed the updated price across NNPCL stations in the Federal Capital Territory, drawing positive reactions from customers. At prominent locations such as Wuse Zone 4 and Olusegun Obasanjo Way, petrol was sold at N965 per litre, leading to long queues of vehicles as commuters scrambled to purchase fuel at the reduced rate.
A driver who spoke to reporters expressed appreciation for the price reduction but emphasized the need for consistent pricing across all outlets to improve accessibility. “I bought petrol this morning at N965, but the queue was really long. Other stations are selling at different prices,” he noted.
Meanwhile, independent and major marketers in Abuja were selling petrol at prices ranging from N1,030 to N1,070 per litre, according to checks at various outlets.
This development follows an announcement by the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Sunday, stating that petrol would sell at N935 per litre starting Monday. The adjustment was attributed to a reduced ex-depot price from the Dangote Petroleum Refinery, which aims to establish a uniform retail price nationwide. IPMAN’s National President, Maigandi Garima, explained that the N935 price point accounts for a logistics cost of N36 per litre.
