 has reduced the pump price of petrol at its retail outlets, lowering it from N960 to N945 per litre.){kind=link}
The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of petrol at its retail outlets, lowering it from N960 to N945 per litre.
The new pricing took effect on Thursday, February 13, 2025, following directives from the company’s headquarters.
As reported by Politics Nigeria, a visit to an NNPC filling station in Ejigbo confirmed the adjustment. A fuel attendant at the station stated, “We received instructions this morning (Thursday) to reduce the price from N960 to N945. The number of customers has increased significantly, leading to long queues.”
However, some motorists and transport operators believe the N15 reduction is too small to make any meaningful impact. Kunle Ademola, a commercial driver, remarked, “This slight reduction does not change much. It’s not enough to influence transport fares.”
Further checks at Ardova, Mobil, and Petrocam stations revealed that these independent marketers have not made similar adjustments. Ardova continues to sell petrol at N970 per litre, while Mobil and Petrocam maintain their prices at N960 and N970 per litre, respectively.
This development follows a similar move by MRS Oil Nigeria Plc, which recently announced a new pump price of N925 per litre in Lagos. The company also introduced a regional pricing structure, setting rates at N935 per litre in the South West, N945 in the North, and N955 in the South East.
The recent price adjustments are linked to declining global crude oil prices, allowing marketers to offer slight reductions. Since the removal of fuel subsidies by President Bola Ahmed Tinubu’s administration in May 2023, petrol prices have soared, rising from N198 per litre to nearly N1000 per litre in some areas.
Despite the minor decrease, many Nigerians continue to express concerns over the high cost of petrol and its broader impact on transportation and the economy.