N20 Cheaper: NNPC Slashes Petrol Pump Price Again, Releases New Rates for Abuja, Lagos, Other States
- The NNPC has once again revised petrol pump price in Lagos, Abuja and other states by at least N20
- Prices across Nigeria now range from N895 to N965 per litre, with Gombe recording the highest price
- There is also changes in depots price with Lagos, Port Harcourt, Warri, and Calabar depots reduced prices following fresh PMS cargoes arrivals
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 revised petrol prices at its retail outlets nationwide.
In Lagos, the pump price dropped from N910 to N890 per litre, while in Abuja, it fell from N940 to N920 per litre.
Source: Getty Images
Checks showed that Ardova, MRS, First Royal, among others are now dispensing petrol to customers at N890 per litre.
Snapshot of new petrol price
A review of NNPC’s latest rates across the country shows that motorists now pay:
- Abuja: N920
- Lagos: N890
- Abia: N912
- Adamawa: N940
- Akwa Ibom: N910
- Anambra: N905
- Bauchi: N915
- Bayelsa: N900
- Benue: N935
- Borno: N945
- Cross River: N910
- Delta: N900
- Ebonyi: N928
- Edo: N910
- Enugu: N912
- Gombe: N965
- Imo: N928
- Kaduna: N935
- Kano: N935
- Kwara: N905
- Nassarawa: N935
- Niger: N955
- Ogun: N905
- Ondo: N905
- Osun: N895
- Oyo: N905
- Plateau: N900
- Rivers: N895
- Sokoto: N935
- Taraba: N950
- Yobe: N950
- Zamfara: N945
Source: Getty Images
Depots also reduce price
Following the arrival of fresh PMS cargoes, several depots in Lagos immediately adjusted prices. Vessels such as ST Nenne, Sea Raptor, and Puffin Pacific boosted fuel stock levels in the city.
To stay competitive with Dangote Refinery’s new ex-depot price of N839 per litre, major Lagos depots including Wosbab, Chipet, Integrated, and Bovas are now selling petrol at N836 per litre, while Aiteo charges slightly lower at N835 per litre.
Industry data indicates that these adjustments are not limited to Lagos.
In Port Harcourt, wholesale rates have been revised, with Masters, Liquid Bulk, and Bulk Strategic now selling at N853 per litre.
In Warri, fresh supplies from vessels including African Coral and Errina prompted widespread reductions, with Danmarna and Optima selling at N848 per litre, Prudent at N847 per litre, and Nepal and Matrix at N846 per litre.
Similarly, in Calabar, petrol reduced at Matrix to N848 per litre, Soroman to N846 per litre, and Alkanes N849 per litre.
Diesel prices crash
Earlier, Legit.ng reported that diesel prices have recorded another drop after Dangote Refinery reduced its gantry rate from N950 to N910 per litre.
The adjustment represents a 4.21% decline and comes barely a month after the upward review on November 6. A proforma invoice sighted by Petroleumprice.ng confirmed the new pricing, which takes effect immediately.
This latest move lands at a time when transport operators, manufacturers and small businesses continue to navigate rising energy costs.
The reduction is tied closely to a softening in international crude oil prices over recent days. With crude cycles easing, refiners have gained more room to adjust output costs downward.
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Source: Legit.ng
