NNPC Announces Petrol Price Reduction in Abuja and Lagos, Bringing Relief to Consumers

The Nigerian National Petroleum Corporation (NNPC) has reduced petrol prices at its retail outlets in Abuja, Lagos, and other states, with prices dropping to N945 per liter. This reduction is attributed to improved supply from the Dangote Refinery, which is now licensed for petroleum product import.

The move is expected to ease the high cost of living in Nigeria. Anthony Chiejina, the Group Chief Brand and Communication Officer of Dangote Industries Limited, highlighted the refinery's current daily dispensing capacity of 45 million liters of petrol and 25 million liters of diesel, contributing to stabilizing the naira and supporting the local currency.

Privately-owned depots have also lowered their prices, indicating an overall reduction in fuel costs.