The price of Premium Motor Spirit (PMS), commonly known as petrol, has dropped to N965 per litre at Nigerian National Petroleum Company Limited (NNPCL) stations in Abuja, offering some relief to motorists in the Federal Capital Territory.
This marks the second reduction in less than two weeks, following an earlier price of N1,060 earlier this month. The adjustment has generated excitement among commuters, with long queues forming at NNPCL retail outlets, including the mega stations at Wuse Zone 4 and Olusegun Obasanjo Way, Central Area.
A motorist confirmed the price reduction but noted the heavy demand. “I bought petrol for N965 this morning at an NNPC station, but the queue is overwhelming. Other stations are still selling at higher prices,” he said, urging uniform pricing to ease access for motorists.
Meanwhile, independent and major marketers continue to sell petrol at prices ranging from N1,030 to N1,070 across Abuja.
This development aligns with recent statements from the Independent Petroleum Marketers Association of Nigeria (IPMAN). On Sunday, IPMAN’s National President, Maigandi Garima, announced that petrol prices would drop to N935 per litre nationwide starting Monday. This reduction is attributed to Dangote Petroleum Refinery’s adjusted ex-depot price and a uniform pricing strategy aimed at cutting logistical costs.
The recent adjustments by both NNPCL and independent marketers have raised hopes for further stabilization in fuel prices as stakeholders work to ease the burden on Nigerians.
