NNPCL reduces petrol price to ₦945 following supply stabilization

The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of petrol, bringing relief to consumers following recent supply disruptions.

Effective Saturday, the retail price of petrol was lowered to ₦945 per litre, down from ₦955, marking a ₦10 decrease. The adjustment follows the resolution of supply challenges at the Dangote Refinery, which had previously triggered a nationwide spike in fuel prices.

The revised pricing has already taken effect at NNPCL retail outlets in Gwarimpa and Wuse Zone 4 in Abuja. Eterna filling station in the capital also confirmed the new rate.

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According to NNPCL, the price cut reflects improved fuel availability from the Dangote Refinery and other petroleum importers, restoring stability to the domestic supply chain.

The recent supply glitch at the refinery, which occurred over two weeks ago, had led to temporary shortages and price hikes across the country.

Meanwhile, President Bola Tinubu has approved a 15 per cent import tax on petrol and diesel — a fiscal policy analysts caution could exert upward pressure on fuel prices in the long term.

Despite the current reduction, stakeholders continue to monitor the impact of the new import levy on future pricing and supply dynamics.

NAN