Prices have fallen from ₦915 per litre, with NNPCL outlets in Lagos, including Igando, Lekki, and Iwaya, selling at ₦838–₦840 per litre, while stations in Abuja are now pegged at ₦835 per litre.
The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to around ₦835 per litre in major cities.
Prices have fallen from ₦915 per litre, with NNPCL outlets in Lagos, including Igando, Lekki, and Iwaya, selling at ₦838–₦840 per litre, while stations in Abuja are now pegged at ₦835 per litre.
The latest move comes in the wake of aggressive pricing by private players, particularly the Dangote Refinery, which has been slashing fuel prices to gain market share.
A source from the petroleum sector noted, "NNPCL’s price adjustment is a direct response to the competitive pricing strategies adopted by Dangote and other private marketers."
Analysts say the reduction reflects broader shifts in the downstream petroleum market, driven by rising domestic refining capacity and falling ex-depot costs.
Independent marketers such as MRS, BOVAS, and AA Rano have also adjusted their pump prices in Abuja, with rates now ranging between ₦739 and ₦865 per litre. Meanwhile, private depots, including Dangote, have reportedly lowered ex-depot prices to between ₦699 and ₦800 per litre.
Industry observers describe this as "a welcome relief for consumers," especially as the festive season drives higher travel demand.
The trend highlights a growing move toward market-responsive pricing in Nigeria, reducing the nation’s historical reliance on imported fuel.
Despite the cuts, experts caution that petrol prices remain "highly sensitive to fluctuations in global crude oil prices, exchange rates, and local refinery output," meaning further adjustments could follow in either direction.
The price war sparked by Dangote’s aggressive pricing is reshaping the market landscape, with calls for greater transparency and open access to sustain downward pressure on fuel costs.
On December 12, it was reported that Dangote Petroleum Refinery reduced the ex-depot price of Premium Motor Spirit (PMS), reducing its petrol gantry rate from N828 to N699 per litre.
It was also reported that the new price took effect on December 12, 2025, marking the 20th petrol price adjustment announced by the refinery this year alone.