Emmanuel OchayiThe Price of petrol, commonly known as premium motor spirit (PMS), has been reduced to N965 per litre at Nigerian National Petroleum Company (NNPC) outlets in the Federal Capital Territory (FCT). This marks the second reduction in less than two weeks, following a previous adjustment from N1,060 per litre earlier this month.
At major NNPC retail stations in Wuse Zone 4 and the Central Area, long queues formed as commuters rushed to take advantage of the new fuel price.
Join our WhatsApp ChannelMixed Reactions to the New Fuel Price
A driver who purchased fuel at an NNPC station expressed appreciation for the price reduction but pointed out challenges with accessibility.
“The reduction to N965 is a good move, but the queue is too long. Other stations still sell at different rates, which creates inconvenience,” he noted.
Independent and major marketers in the city continue to sell petrol at prices ranging from N1,030 to N1,070 per litre, making NNPC outlets the preferred choice for many customers.
Impact of Dangote Refinery’s Price Adjustment
On Sunday, the Independent Petroleum Marketers Association of Nigeria (IPMAN) announced plans for its members to sell petrol at N935 per litre starting Monday. This development followed the Dangote Petroleum Refinery’s decision to lower its ex-depot price for PMS.
According to IPMAN’s National President, Maigandi Garima, the adjustment aims to create a uniform pricing structure nationwide. “Marketers will sell at N935 per litre while accounting for N36 in logistics costs,” he explained.
Customers Call for Uniform Pricing
While the price reduction has been welcomed, some consumers are calling for uniform pricing across all outlets to reduce congestion at NNPC stations.
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“The government and marketers need to ensure uniformity. Long queues disrupt our daily routines,” a commuter said.
The recent developments highlight ongoing efforts to stabilize fuel prices, but challenges in implementation and accessibility remain significant for consumers across Nigeria.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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