The Nigerian National Petroleum Company (NNPC) Limited has announced a reduction in the pump price of Premium Motor Spirit (PMS), popularly known as petrol, from N935 to N910 per litre in Abuja.
However, the revised price is yet to take effect in Lagos and other parts of the country.
This development comes amid growing competition in the domestic fuel market, following recent price cuts by Dangote Petroleum Refinery, which reduced its gantry price to N825 per litre—down from N835 per litre.
The latest move by Dangote marks the second price drop in recent weeks. Just last month, the refinery, which has a production capacity of 650,000 barrels per day, reduced its gantry price from N865 to N835 per litre.
Analysts suggest the pricing adjustments may signal the beginning of competitive pricing trends in Nigeria’s petroleum sector.
