NNPCL reduces fuel pump price to N895 per litre

The Nigerian National Petroleum Company Limited, NNPCL, has again announced the reduction in the pump price of Premium Motor Spirit (PMS), popularly known as Petrol.

According to the state-owned oil firm, the price of the product has been slashed its petrol from N910 to N895 per litre.

The figure showed that NNPCL reduced its fuel pump by N15 per litre.

The latest NNPCL retail price drop comes days after Dangote Refinery and its partners slashed their fuel price to N875 and N895 in Lagos and Abuja.

Speaking on the development, the Spokesman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, said marketers are now competing favourably with NNPCL following the liberalisation of the country’s downstream oil and gas sector.

He added that NNPCL is encouraging monopoly over controversies surrounding the rehabilitation of Port Harcourt, Warri and Kaduna refineries.