NNPC Reduces Fuel Price, See New Amount Per Litre

News Update

THE Nigerian National Petroleum Company Limited (NNPCL) has reduced petrol prices at its retail outlets in parts of Lagos and Ogun states, with pump prices now selling at about N1,305 per litre in some stations along the Ibafo axis of the Lagos-Ibadan Expressway.

The new price shows a slight drop compared to earlier rates that were above N1,310 per litre in some locations.

The adjustment was seen at NNPC filling stations during recent checks, where motorists paid a bit less than before.

Other fuel marketers in the same axis are still selling at different rates, but NNPC outlets adjusted their pumps downward in line with changing supply costs in the market.

This comes after a price reduction announced by Dangote Petroleum Refinery.

The refinery recently lowered its ex-depot petrol price from N1,275 per litre to N1,250 per litre.

It also reduced diesel from N1,800 per litre to N1,700 per litre.

This adjustment has started to reflect in pump prices across different stations.

On Tuesday, some MRS filling stations around the Mowe and Ibafo axis were selling petrol at about N1,286 per litre.

Other marketers such as NIPCO and Heyden sold at around N1,290 per litre, while SGR offered at about N1,297 per litre.