Again, NNPC Announces New Petrol Pump Prices, Other Filling Stations Adjust
- NNPCL has reduced petrol prices in Lagos and in Abuja as competition intensifies in Nigeria's downstream market.
- Other filling stations are also lowering pump prices as petrol costs at depots decline
- The latest price cut is expected to prompt other filling stations to adjust their prices, providing relief for Nigerians
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian National Petroleum Company Limited (NNPCL) has reduced its retail pump price of Premium Motor Spirit(PMS) again.
This is the second drop in as many weeks, reflecting the changes in the global crude oil market.
Source: Getty Images
While prices in Lagos reduced from N1,210 to N1,170 a litre, motorists at the Abuja depot now pay N1,210 per litre, down from N1,260 per litre at NNPC stations.
New petrol prices emerge at NNPC filling stations
This review comes less than a week after the company slashed petrol prices from N1,295 per litre to N1,210 per litre in Lagos and N1,335 per litre to N1,260 per litre in the FCT.
NNPC retail stations in Lagos, Abuja and some other locations have adjusted to N1,170/N1,210, Petroleumprice.ng reports.
Many independent and major marketers have reduced their pump prices due to a decrease in ex-depot prices and intensifying competition.
The changes followed as marketers buy petrol at depots at a lower price than last week.
For example, Integrated, Ascon, Sahara, Bono, and African Terminal supplied petrol at N1,120 per litre while Pinnacle and Techno Oil supplied petrol at N1,121 per litre, which makes it easy for retailers to lower their pump price.
Source: Getty Images
Other filling stations to adjust
The latest adjustment would increase competitive pressure on the oil marketers, and will further drive competition among them to woo customers and retain market share.
The federal government has also urged marketers to bring down domestic pump price whenever prices crash due to global oil price decline.
Although petrol price in the country is determined by market dynamics under the deregulated system, the government has said that it has the responsibility to protect the consumers.
Market experts are optimistic that the latest reduction by NNPC could trigger another round of downward reviews by the competing oil marketers within the week.
Diesel price rises by 86.40% in May 2026
Earlier, Legit.ng reported that the National Bureau of Statistics (NBS) has revealed that the average retail price of Automotive Gas Oil (AGO), commonly known as diesel, increased by 86.40% year-on-year to N3,277.47 per litre in May 2026.
According to the latest diesel price watch report released by the statistics agency, the figure rose from N1,758.26 per litre recorded in May 2025.
The report also showed that diesel prices increased by 32.44% on a month-on-month basis, rising from N2,474.69 per litre in April 2026 to N3,277.47 per litre in May.
Source: Legit.ng
