NNPCL Slashes Petrol Price to N900, Reverses Recent Hike

Barely 48 hours after the controversial fuel price hike, the Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), popularly known as petrol, from N955 to N900 per litre at its retail outlets.

The Eaglesforesight confirmed on Wednesday that NNPCL stations across key areas in the Federal Capital Territory—including Gwarimpa, Kubwa Expressway, Wuse Zone 6, and Zone 4—have begun implementing the new price.

“On Tuesday we sold fuel at N955 per litre, but it is now N900,” a fuel attendant at an NNPCL retail outlet in Abuja disclosed under anonymity.

This represents a N55 per litre drop, signaling a partial reversal of the Monday price hike that shocked motorists nationwide.

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Other major marketers are reacting differently. Ranoil and Empire Energy stations in Gwarimpa now sell at N955 and N950 per litre, down from N971 and N970, respectively. However, MRS stations appear to maintain their pump price at N885 per litre, consistent with previous reports.

Industry experts attribute the earlier hike to increased ex-depot prices from Dangote Refinery and other depots, which disrupted supply chains and caused a ripple effect across retail fuel prices.

The development comes amid ongoing debates over deregulation, cost-reflective pricing, and the role of domestic refineries in stabilizing the energy market.