Some filling stations operated by the Nigerian National Petroleum Company Limited (NNPCL) have adjusted their petrol pump price to N860 per litre, down from N945 per litre on Sunday, according to industry sources.
It was observed the price reduction at select NNPCL retail outlets in Lagos, though the company has yet to issue an official statement on the change. This development follows the Dangote Refinery’s recent decision to lower its ex-depot petrol price from N890 per litre to N825 per litre.
NNPCL spokesperson Olufemi Soneye has not responded to inquiries regarding the price adjustment. However, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, confirmed the development, stating that while the price revision has yet to reflect on NNPCL’s official portal, updates are in progress.
“It is true, NNPC is selling petrol at N860 in the filling stations. Though this has not been reflected on the portal, they told me they are working on updating it,” Fashola said.
Similarly, Billy Gillis-Harry, National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), noted the price cut but mentioned that further details are still being gathered.
The Dangote Refinery’s move last week set a new pricing benchmark for the Nigerian fuel market, influencing NNPCL’s latest adjustment. The changes come amid ongoing discussions on fuel pricing, deregulation, and the impact of local refining on pump prices.
