Nigerian National Petroleum Company (NNPC) Limited has reduced the retail price of petrol at its service stations across major cities, bringing relief to motorists after weeks of fluctuating fuel costs.
Gatekeepers News reports that the new pump prices are N1,130 per litre in Lagos and N1,165 per litre in Abuja, reflecting a downward adjustment from earlier higher rates.
The price drop comes amid broader adjustments in Nigeria’s downstream petroleum sector, where both government-linked and private refineries have been restructuring petrol prices in response to recent shifts in global oil prices and ex-depot costs.
NNPC’s move follows periods of volatility in retail petrol costs, with prices earlier this month having been higher before the reduction.
