Breaking: NNPCL Drops Petrol Price – Nigerians React

The Nigerian National Petroleum Company Limited (NNPCL) has once again slashed the pump price of Premium Motor Spirit (PMS), commonly known as petrol, bringing it down to ₦890 per litre. This marks the second price reduction in less than a week.

The new pricing was observed at several NNPCL retail stations across Abuja, including those along the Kubwa Expressway, Gwarimpa, and Wuse Zone 4, on Wednesday, July 23.

This latest adjustment reflects a ₦5 drop from the previous price of ₦895 per litre. The move appears to be a response to shifts within the domestic supply and distribution chain, with many speculating that increased supply from local refiners—particularly the newly active Dangote Refinery—may be driving competition. Indeed, other major marketers such as AP Ardova, Optima, MRS, and Bovas were seen dispensing fuel at slightly lower prices, around ₦885 per litre.

Commenting on the ongoing fluctuations, the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, attributed the price changes to the deregulated nature of Nigeria’s downstream sector. “

Fuel prices will continue to vary based on market forces such as global oil prices, exchange rates, logistics, and supply conditions,” he said. Although the recent cuts have brought slight relief, many motorists and commuters argue that transport fares remain largely unaffected, prompting fresh calls for government support to stabilise the naira and bolster local refining capacity for long-term fuel price stability.