Breaking News: NNPC Slashes Petrol Price Below ₦1,000 Per Litre

In a move that’s set to spark a price war among oil marketers, the Nigerian National Petroleum Company Limited (NNPCL) has announced a significant reduction in the price of Premium Motor Spirit (PMS), also known as petrol.

As of today, the price of petrol has been cut below ₦1,000 per litre, with the ex-depot price reduced from ₦1,020 to ₦899 per litre. This development is seen as a response to the competitive impact of deregulation in the downstream sector.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended the NNPCL for its swift response to the call for affordable petrol prices. According to PETROAN, this move is expected to benefit consumers and spark a price war among oil marketers.

This reduction in petrol price is a significant step towards making life more affordable for Nigerians, especially during this festive season. As the country continues to navigate the challenges of deregulation, it’s clear that the NNPCL is committed to making petrol more accessible and affordable for all.

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