The Nigerian National Petroleum Company Limited (NNPCL) has announced a slight reduction in the petrol pump price at its retail outlets, lowering the cost from N960 to N945 per litre. The price adjustment took effect on Thursday, February 13, 2025, following directives from the company’s headquarters to its filling stations.
A visit to an NNPC station in Ejigbo confirmed the price revision. A petrol attendant at the outlet stated, “Yes, this morning (Thursday), we received instructions from the head office to reduce the price from N960 to N945. You can already see the level of patronage and the long queues.”
However, reactions from consumers have been mixed. Some commercial drivers argue that the N15 reduction is insignificant and will not influence transport fares. Kunle Ademola, a commercial driver, expressed skepticism, saying, “Although petrol price has been reduced, it will have no effect on my fares as the reduction is too small for me to adjust.”
Meanwhile, checks at other filling stations, including Ardova, Mobil, and Petrocam, revealed that the new pricing has yet to be adopted. Ardova continues to sell at N970 per litre, while Mobil and Petrocam maintain their pump prices at N960 and N970 per litre, respectively.
This reduction follows a similar move by MRS Oil Nigeria Plc, which recently adjusted its petrol price to N925 per litre at its Lagos stations. The company also outlined regional price variations, with fuel costing N935 per litre in the South West, N945 in the North, and N955 in the South East.
The recent adjustments have been linked to declining global crude oil prices, which have provided some relief to fuel marketers. Since the removal of fuel subsidy by President Bola Ahmed Tinubu’s administration in May 2023, petrol prices have fluctuated, rising from N198 per litre at the time of subsidy removal to nearly N1000 per litre in recent months.
Despite the price cut, many Nigerians remain concerned about the high cost of fuel and its impact on transportation and the overall cost of living.
