The Nigerian National Petroleum Company Limited (NNPC) has announced a nationwide reduction in petrol pump prices, offering relief to motorists and businesses ahead of the Christmas travel season.
According to pricing information from NNPC retail outlets, Abuja now records one of the lowest pump prices among major cities at ₦835 per litre, while Lagos sells at ₦820 per litre. The price adjustment is aimed at easing transportation costs during the festive period, when fuel demand typically rises.
The reduction follows a recent decision by the Dangote Refinery to lower its ex-depot petrol price to ₦699 per litre, with partner filling stations retailing the product at approximately ₦739 per litre. In response, NNPC aligned its pricing strategy to remain competitive and ensure broader access to affordable fuel nationwide.
Regional Price Differences
Despite the reductions in major cities, petrol prices remain higher in some northern states. Gombe, Niger, and Zamfara currently record some of the highest pump prices, selling at about ₦965, ₦955, and ₦945 per litre respectively.
In the South-South and South-East regions, petrol prices generally average around ₦900 per litre, with slight variations across states such as Akwa Ibom, Cross River, and Ebonyi.
Market analyst Ifeanyi Okeke described the timing of the price cut as significant, noting that it coincides with increased holiday travel. He added that lower fuel prices in Abuja and Lagos could encourage transport operators to review fares, thereby reducing financial pressure on commuters.
Relief for Motorists and Businesses
The revised pricing is expected to benefit millions of Nigerians, particularly transporters and businesses that rely heavily on fuel for daily operations. Several downstream operators, including MRS and Sixxco Oil Limited, have also begun sourcing petroleum products directly from the Dangote Refinery, a move expected to support price stability and steady supply.
As festive travel intensifies across the country, the petrol price reduction is seen as timely intervention that may positively influence transportation costs and ease the burden on consumers during the holiday season.
Source: Theghanareport.com
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