NNPCL Cuts Petrol Prices in Abuja and Lagos Amid Proposals
The Nigerian National Petroleum Company Limited (NNPCL) has reversed a recent petrol price hike, reducing prices at its Abuja filling stations to N1,370 per litre from N1,405. A market survey conducted on October 12 revealed that NNPCL outlets in Berger, Wuse Zone 6, and Wuse Zone 4 adjusted prices downwards by N35 per litre.
In Lagos, NNPCL stations are selling petrol at N1,360 per litre, which is N10 lower than the Abuja price. This reduction coincides with Finance Minister Taiwo Oyedele's proposal to fix petrol prices at N1,350 per litre across NNPCL filling stations, which raised questions about a potential return to fuel subsidies, a notion rejected by Oyedele and the Presidency.
The price reduction is part of a broader discussion on managing fuel costs, with Dr Chinyere Almona, the Director-General of the chamber, advocating for a structured Petrol Price Reduction Programme to achieve a 20% reduction in pump prices.
Plus234Feed summary based on reporting from Legit.ng. Read the original report below.
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