Breaking: NNPCL Slashes Fuel Prices Again – Nigerians Rejoice

The Nigerian National Petroleum Company Limited (NNPCL) has lowered the pump price of Premium Motor Spirit (PMS), commonly known as petrol, for the second time in less than a week.

On Thursday, December 4, 2025, the state-owned oil company reduced its retail price by ₦10 per liter, bringing it down from ₦930 to ₦920 per liter at its filling stations in Abuja, including outlets in Gwarimpa, Kubwa Expressway, and Wuse Zone 4.

This follows an earlier reduction of ₦15 per liter on November 28, 2025, reflecting a continuous downward trend at NNPCL retail points.

The ongoing price cuts are largely driven by increasing competition in Nigeria’s deregulated downstream oil sector, particularly between NNPCL and the Dangote Petroleum Refinery.

Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), told Daily Post that fuel prices are expected to continue declining as rivalry among key players intensifies.