The state-owned Nigerian National Petroleum Company Limited has cut petrol prices for the second time in weeks. This latest reduction is a direct response to a growing price competition among major fuel sellers in the country.
The new price of N815 per litre is now effective at NNPC filling stations in parts of Abuja and along key roads in the capital territory. Station workers confirmed the change began on Sunday evening.
This move continues a fierce price war that started when the giant Dangote Refinery lowered its wholesale fuel price last month. In December, NNPC had already reduced its price by N80 to N835 per litre.
However, the current NNPC price remains higher than fuel sold at stations supplied by Dangote. Those outlets are selling at N739 per litre, which is N79 cheaper than NNPC’s new rate.
Industry observers say these repeated cuts signal a major shift in Nigeria’s fuel market. For years, prices were largely fixed, but the entrance of the large private refinery is now forcing others to compete.
Motorists are seeing rare relief at the pumps, though it remains unclear how low prices will go or how long this competition will last. The situation is changing rapidly
