By Attah Ede
The Nigerian National Petroleum Company Limited (NNPCL), on Thursday announced reduction in its petrol pump price across filling stations nationwide with Lagos State having the lowest price.
This current adjustments shown a N30 reduction when compared to the previous price of N895 announced recently.
The same adjustment was observed at NNPC stations in Abuja as motorists paid on Thursday N890 per litre from the previous price of N925.
One of the managers who spoke on condition of anonymity told newsmen that , “This morning (Thursday), we received instructions to reduce the pump price to N865 per litre. Our previous price was N895. I can tell you that our patronage has increased since the adjustment.
“We recorded low sales for two days because nearby fuel stations were selling cheaper.”
The new pump prices released by NNPCL for states on Thursday are:
Abia – N945, Adamawa – N910, Akwa Ibom – N955, Anambra – N890, Bauchi – N915, Bayelsa – N930, Benue – N950, Borno – N960, Cross River – N910, Delta – N930, Ebonyi – N905, Edo – N930
Enugu – 890, Gombe – N965 and Imo – N910 as well as Kaduna – N910, Kano – N950 and Kwara – N875.
Others are; Lagos – N865, Nasarawa – N950, Niger – N945, Ogun – N870, Ondo – N905, Osun – N875, Oyo – N870, Plateau – N900, Rivers – N925, Sokoto – N955, Taraba – N930, Yobe – N965 and Zamfara – N950.
The changes in petrol prices at NNPC filling stations follow Dangote Petroleum Refinery’s decision to reduce its ex-depot price from N850 to N820 per litre.
Other depots, in a bid to attract customers, also reduced their prices closer to Dangote’s rate.
Dangote refinery partners such as MRS, Ardova, and Hyden, among others, have also reduced their pump prices to between N865 and N875 per litre, down from the previous N890 and N895.
Nigeria is operating a deregulated market, and prices are now determined by market forces.
The latest price movement is due to a drop in crude oil prices, according to sources.
