Nigerian National Petroleum Company Limited (NNPCL) has again reviewed its pump price for Premium Motor Spirit (PMS), commonly known as petrol, in what appears to be a direct response to ongoing market movements across the downstream oil sector.
The adjustment was noticed on Saturday, with NNPCL-operated filling stations across key locations in Abuja—such as Kubwa Expressway, Zone 4, and Gudu—displaying a revised price tag of N910 per litre.
This reflects a decrease from the previous rate of N935 per litre, signaling a N25 reduction. The price change quickly attracted large crowds of motorists who hurried to these outlets to take advantage of the lower rate.
This latest move adds to the wave of pricing changes in Nigeria’s fuel market, which has been in flux since major players like Dangote Refinery announced new price structures. Dangote recently fixed its ex-depot price for PMS at N835 per litre.
Following that announcement, its major partners, including MRS, Ardova (AP), Heyden, Techno Oil, Optima Energy, and Hyde Energy, started selling petrol to retailers at rates between N890 and N920, depending on the city.
This shift has triggered a ripple effect throughout the country, creating what some analysts describe as a “price shakeup” in the downstream sector. While NNPCL’s latest revision mirrors these trends, it also underlines the competitive pressure state-owned retailers now face as private operators adjust their prices more flexibly.
As of Saturday, independent marketers in various parts of the country continued to sell fuel within a broader range—between N930 and N950 per litre—depending on their proximity to depots and transport logistics.
NNPCL last cut its retail price on April 20, 2025, when it dropped to N935 per litre. That earlier drop had already hinted at possible further reductions, especially amid rising supply from the newly active Dangote Refinery.
The company has not released an official statement explaining the most recent price change, but a staff member at one of the Abuja outlets told DAILY POST, “We just received the update this morning and adjusted the meter immediately.”
