The Nigerian National Petroleum Company Limited, NNPCL, has reduced the pump price of premium motor spirit, PMS.

 

Reacting to the petrol price cut, a motorist, Muhammad Ibrahim, said the development is expected as it would avail Nigerians more competitive prices.

“It is long expected because other filling stations have reduced their petrol prices,” he told Journalist.

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.

Ugamatv reports that other filling stations had reduced their petrol pump prices to between N900 and N910 per litre.

Earlier, the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said marketers are now competing favourably with NNPCL following the liberalisation of the country’s downstream oil and gas sector.

He further noted that NNPCL is encouraging monopoly over controversies surrounding the rehabilitation of Port Harcourt, Warri and Kaduna refineries.