The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of petrol at its retail stations in Abuja to ₦965 per litre, down from the previous ₦1,030 per litre.
This is the second price cut by the company within two weeks. Earlier, NNPC reduced the price from ₦1,060 to ₦1,030 per litre. The latest adjustment comes as the company faces growing competition from products of the Dangote Refinery.
A visit to NNPC retail outlets in the Central Area and Nyanya confirmed the new price is already in effect.
Motorists have welcomed the reduction and expressed hope for further decreases.
Mr Adamu Shuaibu, a commercial driver on the Nyanya-Zuba route, said, “I noticed the new price yesterday. The government is trying, but they need to do more. The price should go back to ₦530 per litre so the cost of goods can reduce as well.”
Similarly, Mr Taofeek Adetunji, a private car owner, praised the development, saying it reflects the economic reforms promised by President Bola Tinubu.
“When the President talked about reforms bringing change, people doubted him. But now we are seeing it. We’re hopeful prices will continue to fall. Petrol is essential to the economy, and this reduction should eventually lower the cost of goods and services.”
Both drivers urged the Federal Government to continue its efforts to make petrol more affordable for Nigerians.