NNPC slashes petrol price to N1,210 per litre in Lagos, Abuja
By Aboki Forex —
The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of petrol across its retail outlets nationwide. The new price follows a decline in global crude oil prices.
NNPC stations in Lagos and Abuja now sell petrol at N1,210 per litre. That is a N50 drop from the previous price of N1,260 per litre. Motorists in these cities are getting some relief at the pump.
The price review comes after the federal government directed marketers to reflect lower crude oil prices in their selling rates. The government also warned against profiteering. Crude oil is currently trading at around $68 per barrel.
Dangote Petroleum Refinery recently cut its ex-depot price by N50 to N1,125 per litre. This move has intensified competition in Nigeria's deregulated downstream petroleum market.
Meanwhile, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has been instructed to ensure that marketers comply with the new pricing directive.
A breakdown of NNPC's latest petrol prices shows wide variations across states. Ogun State has the cheapest price at N1,170 per litre. Lagos and Abuja follow at N1,210. Osun sells at N1,220, Kano at N1,222, and Ondo and Rivers at N1,230 per litre.
At the higher end, Yobe has the most expensive petrol at N1,395 per litre. Bauchi sells at N1,385, Sokoto at N1,378, and Plateau at N1,375 per litre.
Here are the latest NNPC petrol prices across selected states: Abia N1,235, Adamawa N1,355, Akwa Ibom N1,235, Anambra N1,235, Bayelsa N1,235, Benue N1,370, Borno N1,270, Delta N1,235, Ebonyi N1,235, Edo N1,235, Ekiti N1,235, Enugu N1,235, Gombe N1,345, Imo N1,235, Jigawa N1,235, Kaduna N1,365, Katsina N1,377, Kogi N1,360, Kwara N1,300, Nasarawa N1,265, Niger N1,364, Oyo N1,295.