 Limited has announced a reduction in the price of Premium Motor Spirit (PMS),){kind=link}
The Nigerian National Petroleum Company (NNPC) Limited has announced a reduction in the price of Premium Motor Spirit (PMS), also known as petrol, at its retail outlets nationwide.
In Abuja, the price has been lowered from N1,060 per litre to N1,040 per litre, reflecting a decrease of N20 per litre. The new pricing came into effect on Saturday morning.
Meanwhile, independently-operated filling stations continue to sell petrol at higher prices, with rates ranging between N1,115 and N1,120 per litre, depending on the location.
Industry observers anticipate that local production from the Port Harcourt and Dangote refineries will foster more competitive pricing in the future.
The Port Harcourt refinery began operations in November, adding to the output from Dangote’s refinery, which processes 650,000 barrels per day and supplies both domestic and international markets.