THE Nigerian National Petroleum Company Limited (NNPCL) has once again reduced the pump price of premium motor spirit (PMS), lowering it from N895 to N890 per litre, marking the second reduction within one week.
News Point Nigeria reports that the fuel stations operated by NNPCL across Kubwa Expressway, Gwarimpa, and Wuse Zone 4 in Abuja have already adjusted their pumps to reflect the new rate.
This price drop comes shortly after an earlier adjustment last week, signaling a possible trend of marginal reductions as part of broader market shifts.
In a competitive move, retail partners of Dangote Refinery including AP Ardova, Optima, MRS, and Bovas — are offering petrol at an even lower rate of N885 per litre, slightly undercutting the NNPCL’s latest price.
In related developments, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has called for a standardized fuel pricing structure across West Africa to curb the widespread importation of adulterated petroleum products and boost local refining capacity.
Speaking at the West African Refined Fuel Conference in Abuja, NMDPRA Chief Executive Farouk Ahmed emphasized the long-term economic benefits of regional pricing coordination.
“Standard pricing will enhance refining capabilities, increase shipping activities, generate jobs, and drive economic independence across the continent especially for Nigeria,” Ahmed said.
Also speaking at the conference, Minister of Budget and National Planning, Senator Abubakar Atiku Bagudu, underscored the importance of increasing local refining capacity.
He noted that attracting sustained investment in Nigeria’s oil and gas sector would be vital in achieving the federal government’s ambition of double-digit GDP growth.
“The journey to sustainable growth hinges on deep investments in the refining space,” Bagudu said.
