Skip to main content

Again, NNPC reduces petrol pump price in Lagos and Abuja

The Nigerian National Petroleum Company (NNPC) Limited has slashed the pump price of premium motor spirit (PMS), popularly known as petrol, at its retail outlets in Lagos and Abuja.

Multiple reports on Monday, April 22, indicated that petrol is now being sold for as low as ₦880 per litre in parts of Lagos and ₦935 per litre in Abuja. 

This marks a noticeable drop from previous rates in Lagos which hovered around ₦910 per litre.

READ ALSO: Motorists elated as NNPCL gives out free fuel, reduces cost per litre nationwide

Reports suggest that NNPC stations at key spots in Lagos, including Apple Junction and Idimu Road, adjusted prices downward. Similar claims were made about NNPC outlets in Abuja’s Lugbe and Kubwa districts.

The price shift comes just days after Dangote Refinery announced a reduction in its ex-depot price of petrol to ₦890 per litre. 

On April 16, the refinery confirmed that its major distribution partners had adjusted retail pump prices to align with the new rate.

NNPC has now set a new retail price below that of Dangote Refinery, signaling that further price cuts from the private facility may be on the horizon. 

Since its debut late last year, Dangote Refinery has typically positioned its prices slightly lower than NNPC's, a trend that may continue in the coming days.

Dangote forcing the hands of oil marketers?

Petroleum product marketers in Nigeria say they are staring down huge financial losses following the recent drop in petrol pump prices nationwide.

Speaking on the development, Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), commended the downward adjustment in petrol gantry prices by Dangote Refinery but raised concerns over its impact on marketers with old stock.

“It is a good development for Nigerians; however, marketers with the old price stock will have to lose billions of naira. It is affecting marketers, but based on the naira-for-crude arrangement, the effect must be reflected in the pump price,” Ukadike said during an interview.

Findings by The PUNCH also suggest that import-dependent marketers, particularly members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), could lose as much as ₦466.62 million daily and close to ₦14 billion monthly if the trend persists.

The financial blow is attributed to the mismatch between their import costs and the current lower pump prices, especially as more competitive pricing from local suppliers like Dangote Refinery continues to shape the market.

READ ALSO: Meet Bashir Ojulari: The new CEO of NNPCL

ridoola.blogspot.com.ng
Labels:

Comments

Post a Comment

Popular posts from this blog

Okpebholo suspends A-G & LG Chair under 3 months over finance dealings

The Edo Government has announced the suspension of Samson Osagie , its Attorney-General and Commissioner for Justice, and Damian Lawani , chairman of the Local Government Service Commission. Mr Musa Ikhilor , Secretary to the State Government (SSG) announced the suspension in a statement in Benin on Thursday morning. ALSO READ: Kano Govt suspend 2 school principals for alleged absenteeism, negligence Ikhilor said the two-state top officials were suspended over allegations of “grave official and financial interactions”. Okpebholo suspends Edo Attorney-General and LG Service Commission Chairman According to him, the suspension, which takes immediate effect, is pending the conclusion of an investigation into the allegations. The SSG said; It is hereby announced for the information of the general public that Gov. Monday Okpebholo has approved the suspension from office of the Chairman of Edo Local Government Service Commission, Damian Lawani and Commissioner for Justice, Samson Os...
Post a Comment
Read more

Family Homes Funds, TETFund & Private Investors Lead National PPP Drive for Renewed Hope Student Housing Projects

The Renewed Hope Student Housing Project is a Public Private Partnership initiative of His Excellency Bola Ahmed Tinubu GCFR that is set to improve the living standards and revitalize infrastructure across Tertiary Institutions in the country with a plan to deliver 38,400 world class student hostel bed spaces across a total of 24 locations: 12 Universities, 6 Polytechnics & 6 Colleges of Education. The Renewed Hope Student Hostel Project in each of the 24 locations will boast 1,600 bed spaces, 400 ensuite rooms with study table and chairs, 4 reading rooms, common room, cafeteria & restaurants, laundromat, grocery shops, salons, public toilets etc.  Family Homes Funds Limited (FHFL), in partnership with the Federal Government of Nigeria, the Tertiary Education Trust Fund (TETFund) and Africa Plus Partners Nigeria Limited is set to deliver on Mr. President’s promise to transform student accommodation nationwide through the Public Private Partnership (PPP) Renewed Hope Stude...
Post a Comment
Read more

NYSC Mobilisation & Academic Standards – Raising quality or adding pressure on students?

On September 29, 2025, President Bola Ahmed Tinubu approved a reform linking the National Youth Service Corps (NYSC) mobilisation process to the National Policy for the Nigeria Education Repository and Databank (NERD). By invoking Sections 2(4)(4) and 16(1)(C) of the NYSC Act, Tinubu stated that no graduate, whether from a Nigerian or foreign institution, will be mobilised for or exempted from NYSC without proof of compliance with the NERD policy. In a common man's understanding, the Federal Government has announced that Nigerian students must now submit their final-year projects or thesis before they can be mobilised for the National Youth Service Corps (NYSC). This policy aims to improve academic standards, ensuring that no student skips essential academic requirements before entering the NYSC scheme . On the surface, this sounds like a laudable idea, but a deeper look reveals a different reality. In many universities, students are allowed to graduate and mobilised for NYSC  ...
Post a Comment
Read more