Nigerian Government Suspends Import Duty, Petrol Prices Drop in Abuja

The Nigerian government has reduced petrol pump prices in the Federal Capital Territory by suspending a 15% import duty on petrol and diesel. This move has resulted in a decrease in pump prices to around N940 to N949 per liter.

Chinedu Ukadike, a spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), attributed the price reduction to the government's import duty suspension. The Nigerian National Petroleum Corporation (NNPC) has also adjusted petrol prices in Abuja to N945 per liter.

Key players like Dangote Refinery, Aiteo, Nipco, and Pinnacle have adjusted their ex-depot prices accordingly.