The Nigerian National Petroleum Company Limited (NNPCL) has implemented a significant reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, across its retail stations—just 48 hours after a sharp hike.
Blueprint reports that the price at various NNPCL outlets in Abuja has dropped from ₦955 to ₦900 per litre. The price adjustment has already taken effect at stations located in Gwarimpa, Wuse Zone 6, Wuse Zone 4, and Kubwa Expressway.
The move signals a ₦55 per litre reduction after Monday's sudden spike in pump price.
Independent marketers have also responded with price cuts. Ranoil and Empire Energy stations in Gwarimpa now sell petrol at ₦955 and ₦950 per litre, respectively—down from ₦971 and ₦970.
This development comes amid public outcry over soaring fuel costs and signals a possible stabilization effort by the national oil company.
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