NNPCL reduces petrol price to ₦910 per litre amid global oil decline

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 ₦910 per litre at its retail outlets in Abuja. This move comes as global crude oil prices continue to dip, influencing domestic pricing in Nigeria's deregulated downstream sector.

Consumers in the Federal Capital Territory began noticing the new pricing at major NNPCL stations on Saturday, July 5, 2025. The reduction from ₦945 to ₦910 represents a ₦35 cut and is expected to provide some relief to motorists and commuters battling high transport costs across the city.

The price drop follows a similar move by the Dangote Refinery, which recently slashed its ex-depot price from ₦880 to ₦840 per litre. Independent marketers under the Independent Petroleum Marketers Association of Nigeria (IPMAN) have also begun adjusting their rates downward, with some selling as low as ₦930 in Abuja and ₦890 in Lagos.

Experts say the development signals healthy competition in Nigeria’s fuel market, but caution that prices may still fluctuate depending on global oil trends and foreign exchange dynamics. Nonetheless, many Nigerians are welcoming the current reduction as a rare bright spot amid broader economic challenges.