NNPC reduces fuel price to N910 in Abuja

The Nigerian National Petroleum Company (NNPC) Limited has reduced the price of Premium Motor Spirit (PMS), commonly known as petrol, from N935 to N910 per litre in Abuja. 

This adjustment is expected to ease the burden on residents of the Federal Capital Territory.

However, the revised price is yet to take effect in Lagos and other cities across the country, where motorists continue to buy fuel at the previous rate.

In a related move, Dangote Petroleum Refinery had earlier reduced its gantry price of petrol from N835 to N825 per litre last weekend.

This follows a previous price reduction last month, when the 650,000 barrels per day refinery lowered the gantry price to N835 per litre from N865 per litre.

According to checks by Vanguard, the latest adjustment aims to provide customers with better value and consolidate Dangote’s leadership position in the domestic market.

According to Petroleumprice.ng, “With control over more than 50% of Nigeria’s fuel market, Dangote recently dropped its petrol price to ₦825 per litre. While the refinery hasn’t officially announced this, sources say it offers flexible deals to its bulk marketers, who now resell at ₦830 or slightly lower.

“This approach helps Dangote stay ahead of depot owners facing higher overheads.

“Dangote’s model has closed the price gap by ₦10 to ₦15, applying significant pressure on competitors.

“Nigeria’s fuel market is undergoing a transformation. Crude prices play a minimal role, while local strategies now dominate.

“Dangote’s growing market share stems from aggressive pricing and operational efficiency.

“Although consumers benefit in the short term, long-term effects may alter the country’s fuel supply landscape. As the price war continues, Dangote’s influence will likely expand, further straining smaller players.”