Friday, November 28, 2025 - The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of premium motor spirit (PMS), also known as petrol, across its retail outlets in Lagos and Abuja.
A survey on Thursday showed that the price of petrol has
dropped to N900 per litre in Lagos and N940 per litre in Abuja.
The latest adjustment reflects a N10 reduction in Lagos from
the previous price of N910 per litre, and a N5 reduction in Abuja from N945 per
litre.
The price cut comes three weeks after Dangote Petroleum
Refinery reduced its ex-gantry petrol price to N828 per litre, a move that has
continued to influence market pricing nationwide.
Earlier, on November 13, the Nigerian Midstream and
Downstream Petroleum Regulatory Authority (NMDPRA) announced that the proposed
15 percent ad-valorem duty on imported petrol and diesel would no longer be
implemented.
“It should also be noted that the implementation of the 15%
ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer
in view,” NMDPRA said.
President Bola Tinubu had initially approved the duty on
October 21 before the reversal was confirmed by regulators.
0 Comments