Nigerian National Petroleum Company Limited, on Saturday, reduced the pump price of premium motor spirit, (PMS), popularly called petrol.
On Saturday, a check round NNPCL filling stations at Kubwa Expressway, Central Business District, and Wuse Zone 4, Abuja, revealed that the company had slashed its petrol price to N895 per litre from N910, an indication that NNPCL slashed its fuel pump by N15.
A driver, Ibrahim Ahmed, in his reaction to the petrol price reduction, expressed delight that the development would give Nigerians the opportunity to benefit from competitive pricing.
The latest NNPCL retail price drop comes days after Dangote Refinery and its partners slashed their fuel price to N875 and N895 in Lagos and Abuja.
Recall that other filling stations had reduced their petrol pump prices to between N900 and N910 per litre.
According to the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, marketers are now competing favourably with NNPCL following the liberalisation of the country’s downstream oil and gas sector.
Ukadike, however, warned that NNPCL is encouraging monopoly over controversies surrounding the rehabilitation of Port Harcourt, Warri and Kaduna refineries.
