The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS) from ₦910 to ₦895 per litre across its retail stations in Abuja.
A Daily Post correspondent, who visited several NNPCL outlets located along Kubwa Expressway, the Central Business District, and Wuse Zone 4 on Saturday, confirmed the ₦15 price cut.
Reacting to the development, motorist Muhammad Ibrahim said the adjustment was anticipated due to similar reductions at other filling stations.
“It was expected. Many other marketers had already lowered their prices,” he told the publication.
This adjustment comes shortly after Dangote Refinery and its partners dropped their pump prices to ₦875 and ₦895 per litre in Lagos and Abuja, respectively.
Reports indicate that independent marketers are now offering PMS at between ₦900 and ₦910 per litre.
Commenting on the market dynamics, Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria, noted that the downstream sector liberalisation has boosted competition with NNPC.
He also criticised the company for fostering a monopoly amid unresolved issues surrounding the rehabilitation of the nation’s key refineries in Port Harcourt, Warri, and Kaduna.
