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The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of petrol to ₦890 per litre in Abuja, marking a slight adjustment from the previous ₦895 per litre recorded just a week earlier.
According to TheCable, the price change was confirmed on Wednesday at several locations, including Federal Housing in Kubwa and the NNPC retail outlet in Wuse, Zone 3.
Despite the new rate in Abuja, petrol continues to sell for ₦865 per litre in Lagos. Earlier this month, the Dangote Refinery lowered its ex-depot price of petrol to ₦820 per litre, following an earlier cut from ₦840. However, MRS Oil, one of Dangote’s distribution partners, still offers the product at ₦885 per litre in the capital.
In response to persistent concerns over petrol pricing and supply issues in the downstream sector, the federal government has convened a national stakeholder forum scheduled for July 23 and 24. Independent marketers have been pushing for clearer pricing regulations amid market instability.
Francis Ogaree, Executive Director of Hydrocarbon Processing Plants, Installation, and Transportation Infrastructure at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), said the meeting will focus on pricing frameworks, feedstock availability, and ensuring stability in the deregulated petroleum market.
