Petrol Prices Drop in Abuja as NNPCL, MRS, Others Cut Pump Rates

By Zainab Imam 

In a welcome development for motorists in the Federal Capital Territory, several major oil marketers, including the Nigerian National Petroleum Company Limited (NNPCL) and MRS Oil Nigeria Plc, have slashed their petrol pump prices, offering slight relief to consumers battling high fuel costs.

Checks across key filling stations in Abuja on Tuesday revealed that NNPCL retail outlets have reduced their pump price for Premium Motor Spirit (PMS) from ₦910 to ₦895 per litre. Similarly, MRS—one of the key distribution partners of the Dangote Refinery—cut its pump price to ₦885 per litre.

Other retailers such as Ranoil and Empire Energy have also joined in the price adjustments, aligning with the trend prompted by a recent reduction in the ex-depot price of petrol from the Dangote Refinery. The refinery, which began supplying petrol locally in May, reportedly reduced its ex-depot rate from about ₦650 to below ₦630 per litre in recent days, leading to this new round of price corrections at the pump.

Though the current reductions may appear marginal, they have been greeted with cautious optimism by motorists and stakeholders, who see it as a potential sign of further cuts in the near future—especially if Dangote Refinery ramps up supply and more marketers key into local sourcing rather than relying solely on imports.

Industry observers have long argued that once the Dangote Refinery operates at full capacity, it could help stabilize domestic fuel prices, especially by reducing dependence on foreign exchange for importation.

This development comes amid persistent calls by civil society groups and labour unions for the Federal Government to address the spiraling cost of living, with fuel prices being a major driver of inflation across transportation and food sectors.

While many Nigerians still feel the burden of fuel deregulation introduced by President Bola Ahmed Tinubu on his first day in office, analysts believe local refining capacity may offer a gradual path to relief—if sustained by supportive policies and transparency in distribution channels.