NNPC Slashes Petrol Price to N860/Litre Amid Market Adjustments
The Nigerian National Petroleum Company Limited (NNPC) has reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, from N945 to N860 per litre.
This price cut follows the recent reduction in the ex-depot price by the Dangote Petroleum Refinery, which has influenced market trends.
Checks by Fusion chronicle revealed that several NNPC retail stations have already adjusted their prices to reflect the new rate of N860 per litre, down from N945 per litre.
As of the time of this report, NNPC has not yet released an official statement regarding the reduction.
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However, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, confirmed the development, calling it a welcome relief for Nigerians.
“It is true, NNPC is selling petrol at N860 in the filling stations. Though this has not reflected on the portal, they told me they are working on updating the portal,” he said.
This development comes amid growing concerns over fuel affordability and economic pressures on consumers. Many Nigerians will be watching closely to see if this reduction will have a significant impact on transportation costs and the general cost of living.
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