NNPCL slashes fuel pump price to N895 per litre

NNPCL slashes fuel pump price to N895 per litre

The Nigerian National Petroleum Company Limited has lowered the pump price of premium motor spirit.

NNPCL filling stations at Kubwa Expressway, Central Business District, and Wuse Zone 4, Abuja, on Saturday attested that the state-owned oil firm has slashed its petrol price to N895 per litre from N910. This showed that NNPCL reduced its fuel pump by N15.

While responding to the petrol price cut, a motorist, Muhammad Ibrahim, said the development is expected as it would avail Nigerians more competitive prices.

“It is long expected because other filling stations have reduced their petrol prices,” he said.

The latest NNPCL retail price drop comes days after Dangote Refinery and its partners dropped their fuel price to N875 and N895 in Lagos and Abuja.

It was reported that other filling stations had reduced their petrol pump prices to between N900 and N910 per litre.

Earlier, the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said marketers are now competing favourably with NNPCL following the liberalisation of the country’s downstream oil and gas sector.

He further noted that NNPCL is encouraging monopoly over controversies surrounding the rehabilitation of Port Harcourt, Warri and Kaduna refineries.