The Nigerian National Petroleum Company Limited (NNPCL) has implemented a slight reduction in petrol prices at its retail outlets, adjusting the pump price from N960 to N945 per litre.
As reported by Politics Nigeria, the new pricing became effective on Thursday, February 13, 2025, following directives from the company’s headquarters.
A visit to an NNPC filling station in Ejigbo confirmed the price adjustment.
A station attendant disclosed, “We received instructions this morning (Thursday) to lower the price from N960 to N945. You can already see how the change has increased patronage, leading to long queues.”
However, the reduction has not been well received by all consumers. Some commercial drivers argue that the N15 decrease is too minimal to affect transportation fares.
One such driver, Kunle Ademola, noted, “This reduction doesn’t make any real difference. It won’t affect the fares I charge my passengers.”
Further checks at Ardova, Mobil, and Petrocam stations showed that these independent marketers had yet to implement a similar reduction.
Ardova continues to sell at N970 per litre, while Mobil and Petrocam maintain prices at N960 and N970 per litre, respectively.
This move by NNPC follows a similar price adjustment by MRS Oil Nigeria Plc, which recently set its pump price at N925 per litre in Lagos. MRS also outlined a regional pricing structure, with fuel selling at N935 per litre in the South West, N945 in the North, and N955 in the South East.
The adjustments in fuel prices are attributed to the recent drop in global crude oil prices, which has allowed marketers to slightly ease costs for consumers. Since the removal of fuel subsidies by President Bola Ahmed Tinubu’s administration in May 2023, petrol prices have surged significantly, rising from N198 per litre to nearly N1000 per litre in various parts of the country.
Despite the slight price cut, many Nigerians remain concerned about the high cost of petrol and its impact on transportation and the overall cost of living.