Relief As NNPC, MRS, AP Other Filling Stations Reduce Petrol Prices
- NNPC reduced its petrol pump price to N1,325 per litre in Abuja, prompting some filling stations to lower their own rates
- In Lagos, MRS dropped its price to N1,331 per litre while NNPC adjusted its rate to N1,340, offering motorists some relief
- Depot prices across major suppliers ranged widely, with Aiteo recording the lowest rate and Masters the highest
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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.
Petrol prices have dipped at select filling stations across Lagos and Abuja following price cuts by the Nigerian National Petroleum Company Limited (NNPC) and retailer MRS, though pump rates remain above N1,300 per litre in both cities.
In Abuja, outlets including AA Rano, Sharon and Shema have dropped their petrol prices by N10, moving from N1,420 to N1,410 per litre.
Source: Getty Images
The adjustment came after NNPC lowered its pump price to N1,325 per litre, positioning itself as one of the cheapest options in the capital and its surrounding areas.
NNPC's reduction followed a price move by Dangote Refinery, which triggered a cut of between N45 and N80 per litre at NNPC stations.
Other retailers in Abuja, including MRS, Ranoil, Empire, Mobil and AP Ardova, were selling petrol at between N1,395 and N1,420 per litre as of the latest market check.
Petrol prices fall in Lagos
In Lagos, MRS cut its pump price by N19, bringing it down from N1,350 to N1,331 per litre.
NNPC also reduced its Lagos rate by N20, moving from N1,360 to N1,340 per litre.
While the cuts offer modest savings for motorists, prices across the state have not fallen below N1,300 per litre.
Depot prices show mixed rates
At the depot level, prices vary considerably across major suppliers. Aiteo quoted the lowest price for Premium Motor Spirit (PMS) at N1,277 per litre, with Nipco close behind at N1,279.
Source: Getty Images
Petroleumprice.ng reports that AA Rano, African Terminal, Integrated, MRS, Rain Oil and Wosbab were all selling at N1,280 per litre.
Ascon listed its depot price at N1,285 per litre, Pinnacle at N1,290 and Dangote at N1,293. A.Y.M Shafa, Matrix and Parker were each at N1,300, while Alkanes and Mainland quoted N1,310 per litre.
Masters had the highest depot price on the list at N1,325 per litre.
The petrol price adjustments coincided with international crude oil benchmarks trading below $100 per barrel.
Petrol imports continue
Earlier, Legit.ng reported that despite the sharp decline in petrol imports, Nigeria continues to rely partly on imported fuel to meet domestic demand.
The National Bureau of Statistics (NBS) reported that the value of petrol imports dropped by N87.401 billion in the first quarter of 2026.
According to the bureau's Foreign Trade Statistics Q1 2026 report, petrol imports fell from N2.271 trillion in the corresponding period of 2025, representing a 96.2% decline.
Source: Legit.ng
