Abuja Fuel Prices Drop as Major Marketers Adjust Prices

Several fuel stations in Abuja have reduced pump prices of petrol as major marketers such as Dangote, BOVAS, AA Rano, NIPCO, and Eterna adjusted their prices downwards. Despite the drop in petrol prices, some stations maintained their prices.

The adjustments come after the cost of petrol fell below Dangote Refinery's ex-depot price. The move follows a decrease in the land cost of petrol, prompting market players to make fresh price adjustments in the retail market.

The Nigerian government's recent approval of a 15% import duty reduction on petrol and diesel aims to boost local refining and competitiveness.