The Nigerian National Petroleum Company (NNPC) Limited has lowered the price of petrol at its filling stations, bringing some relief to motorists.
News About Nigeria gathered that new price in Abuja is now N880 per litre, down from the previous N965 per litre.
In Lagos, the price has also been reduced to N860 per litre.
This adjustment was noticed at several NNPC retail outlets.
At a station in Federal Housing, Kubwa, Abuja, petrol was sold at the new rate on Monday afternoon.
In Lagos, the revised price was reflected at NNPC outlets in areas such as Irawo, Ransco bus stop on Ikorodu Road, and Idimu Road.
This is not the first time in recent weeks that petrol prices have changed.
On February 13, NNPC reduced the price in Lagos from N960 to N945 per litre.
Meanwhile, Dangote Petroleum Refinery has also lowered its ex-depot petrol price twice in February.
Initially, it was reduced from N950 per litre to N890, and later to N825 per litre.
Following Dangote’s price reduction, some filling stations adjusted their prices accordingly.
For instance, MRS stations in Lagos sold petrol at N860 per litre, while Heyden stations set their price at N865 per litre.
The price drop comes at a time when fuel costs remain a concern for Nigerians, affecting transportation and the overall cost of living.
The rise in fuel prices began on May 29, 2023, when President Bola Tinubu removed the fuel subsidy on his first day in office.
However, it is yet to be seen if other marketers will follow suit and whether this reduction will be sustained in the coming weeks.
