The Nigerian National Petroleum Company Limited (NNPCL) has announced a slight reduction in petrol prices at its retail stations, lowering the pump price from N960 to N945 per litre.
The new pricing took effect on Thursday, February 13, 2025, following an official directive from the company’s headquarters.
According to Politics Nigeria, At an NNPC filling station in Ejigbo, attendants confirmed the adjustment. One of them stated, “We received instructions this morning (Thursday) to change the price from N960 to N945. As you can see, more customers are coming in, and the queues are growing.”
However, reactions from motorists have been mixed. Some commercial drivers argue that the N15 reduction is too minimal to affect transportation costs. Kunle Ademola, a commercial driver, remarked, “This price cut is insignificant. It won’t affect transport fares in any way.”
Meanwhile, independent marketers such as Ardova, Mobil, and Petrocam have not implemented similar reductions. Ardova still sells petrol at N970 per litre, while Mobil and Petrocam maintain their rates at N960 and N970 per litre, respectively.
This price adjustment comes shortly after MRS Oil Nigeria Plc reduced its petrol price to N925 per litre in Lagos. MRS also introduced a regional pricing system, setting fuel prices at N935 per litre in the South West, N945 in the North, and N955 in the South East.
The drop in petrol prices has been linked to recent declines in global crude oil prices, providing room for slight reductions at the pump. Since the removal of fuel subsidies by President Bola Ahmed Tinubu’s administration in May 2023, petrol prices have surged from N198 per litre to nearly N1000 per litre across the country.
Despite the price cut, many Nigerians continue to express concerns over the high cost of fuel and its impact on transportation and daily expenses.
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