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NNPCL has reduced petrol prices to N1,170 per litre in Lagos and N1,210 per litre in Abuja, marking another N40 per litre cut.Other filling stations are also lowering pump prices as wholesale petrol costs decline and competition intensifies in Nigeria’s deregulated downstream market.The latest price cut is expected to pressure independent and major marketers to adjust their prices further, providing relief for motorists and businesses
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.
Nigeria National Petroleum Company Limited has dropped its retail pump price again of Premium Motor Spirit(PMS) to N1,170 and N1,210 per litre for Lagos and Abuja, just as competition is growing in the country’s downstream oil market.
This would be the second drop in as many weeks, by N40 a litre across the two cities.
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