The Nigerian National Petroleum Company Limited (NNPCL) has reduced its petrol pump price from ₦945 to ₦860 per litre.

The reduction was confirmed based on observations from some retail outlets of the NNPCL, which have adjusted their meters accordingly.

Though there is no official communication on the price reduction yet, some fuel marketers confirmed the development to newsmen.

The National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, told Punch that the NNPCL is working on updating its portal with the new price.

“It is true, NNPC is selling petrol at ₦860 in the filling stations. Though this has not been reflected on the portal, they told me they are working on updating the portal,” the IPMAN leader said.

Also, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, Billy Gillis-Harry, confirmed the price reduction.

He said, “They reduced the pump price earlier this morning but I’m yet to get the details.”

Naija News reports the development comes a few days after Dangote Refinery announced a price cut.

Recall Dangote last week Wednesday, announced a ₦65 reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol.

The reduction in the ex-depot price from ₦890 to ₦825 per litre took effect on 27th February 2025.

Under the new arrangement, buyers in Lagos would purchase fuel at ₦860 per litre at MRS outlets.

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