Fuel Prices Drop in Abuja as Landing Costs Fall Below Dangote Refinery Rates

Fuel prices in Abuja have decreased as the landing cost of petrol has fallen below rates set by Dangote Refinery. Major fuel stations like NIPCO, AA Rano, Eterna (NGX: ETERNA), and NNPC have adjusted their pump prices downwards.

Despite this, some stations, including Dangote's, have maintained their prices. The drop in prices is attributed to a decrease in the landing cost of petrol, prompting other stations to potentially follow suit.

This development follows President Bola Tinubu's approval of a 15% import duty reduction on petrol and diesel to boost local refining and competition.