NNPCL reduces fuel price as Dangote Refinery stabilizes supply

The Nigerian National Petroleum Company Limited (NNPCL) has slashed the pump price of petrol following the resolution of recent supply disruptions at the Dangote Refinery.

As of Saturday, the state-owned oil company reduced the retail price of petrol to N945 per litre, down from N955, marking a N10 decrease.

The new price has already taken effect at NNPCL retail stations in Gwarimpa and Wuse Zone 4 in Abuja. Similarly, the Eterna filling station in the nation’s capital also adjusted its rate to N945 per litre.

The price cut comes after a notable improvement in nationwide fuel supply from the Dangote Refinery and other petroleum importers.

Over two weeks ago, a temporary supply glitch at the refinery had triggered a spike in petrol prices across the country.

Meanwhile, President Bola Tinubu recently approved a 15 per cent import tax on petrol and diesel — a policy move analysts warn could still push fuel prices higher in the long run.