The Nigerian National Petroleum Company Limited has reduced petrol prices across its retail stations in Lagos and Abuja. Checks on Thursday showed pump prices dropping to N900 per litre in Lagos and N940 in the nation’s capital, reflecting reductions of N10 and N5 respectively. Outlets at Apple Junction in Lagos and Lugbe airport road in Abuja were among the first to reflect the new rates.
The adjustment comes three weeks after the Dangote Refinery lowered its ex-gantry petrol price to N828 per litre, helping ease nationwide supply pressures. The development also follows confirmation from the Midstream and Downstream Petroleum Regulatory Authority that the earlier approved 15 percent ad-valorem duty on imported fuel is no longer being implemented.
Also Read: NNPC Denies Adjusting Pump Prices Of Petrol And Diesel
President Bola Tinubu had authorised the duty in October before the policy shift.
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