The Nigerian National Petroleum Company Limited (NNPCL) has reduced the price of Premium Motor Spirit (PMS), also known as petrol, in Abuja. Over the weekend, NNPCL stations across Kubwa Expressway, the Central Business District, and Wuse Zone 4 adjusted their pump prices from ₦910 per litre to ₦895.

This marks a ₦15 price drop, which many motorists say was long overdue. According to Muhammad Ibrahim, who spoke about the change, “It is long expected because other filling stations have reduced their petrol prices.”

The move from NNPCL comes shortly after Dangote Refinery and its partners slashed their fuel prices too. Currently, they’re selling petrol at ₦875 and ₦895 in Lagos and Abuja. This shift is making waves across the market, pushing other stations to follow suit with prices ranging between ₦900 and ₦910 per litre.

Industry experts say the change is being driven by healthy competition. With the Nigerian downstream oil and gas sector now liberalized, independent marketers have more flexibility to compete. Chinedu Ukadike, spokesperson of the Independent Petroleum Marketers Association of Nigeria, explained that private marketers are starting to catch up to the pricing power NNPCL once had.

He also touched on broader industry concerns, stating that “NNPCL is encouraging monopoly over controversies surrounding the rehabilitation of Port Harcourt, Warri and Kaduna refineries.”

With more players now active and competing on price, Nigerian motorists may start seeing more wallet-friendly pump prices. While this reduction may seem small, it signals a broader shift in the fuel market—one where monopoly is being challenged, and consumer options are growing.

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