NNPC slashes petrol price to ₦965 per litre in Abuja

The Nigerian National Petroleum Company (NNPC) Limited has announced a further reduction in the pump price of petrol at its retail outlets in Abuja, lowering it to ₦965 per litre from the previous ₦1,030 per litre.

This adjustment, confirmed during visits to NNPC retail outlets in the Central Area and Nyanya suburb of the Federal Capital Territory, marks the second price cut within two weeks. Earlier, the company had reduced the price from ₦1,060 to ₦1,030 per litre.

The ongoing competition with products from the Dangote Refinery has been cited as a key factor driving the price cuts.

Motorists in the nation’s capital have welcomed the reduction, expressing optimism about further price adjustments that could provide relief amid rising living costs.

Mr. Adamu Shuaibu, a commercial driver operating on the Nyanya-Zuba route, said: “I noticed the new price yesterday. The government is trying, but they should do more. The price should return to N530 per litre so that the cost of other goods can decrease too.”

Similarly, Mr. Taofeek Adetunji, a private car owner, commended the development, linking it to ongoing economic reforms by President Bola Tinubu.

“When the President promised his reforms would yield results, many doubted him. But now you can see it. We are optimistic that prices will keep dropping. Petrol is vital to the economy, and this reduction will soon reflect in the cost of goods and services.”

Both drivers urged the Federal Government to sustain efforts to make petrol more affordable.