NNPC Slashes Petrol Price to N910 per Litre in Abuja as Dangote Refinery Triggers Industry-Wide Fuel Cost Drop
By SpringNewsNG Media Limited – July 7, 2025
Abuja, Nigeria – The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of petrol to N910 per litre at its retail outlets in Abuja, marking a ₦35 decrease from the previous rate of ₦945.
This price adjustment comes amid a broader trend of declining global oil prices and increased domestic supply. Across other fueling stations in Abuja—particularly around Lugbe and Airport Road—petrol is now retailing at an average of ₦935 per litre.
The development follows a similar move by Dangote Petroleum Refinery, which lowered its wholesale price of petrol to ₦840 per litre on July 1, 2025. The global benchmark for oil, Brent crude, also dipped significantly to $68.30 per barrel as of June 4, contributing to the downward shift in local fuel pricing.
In response to the fluctuating petrol prices and growing market uncertainty, Francis Ogaree, Executive Director at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), announced plans for a key stakeholder summit. The event, scheduled for July 23–24, 2025, will bring together refiners, marketers, regulatory agencies, and government officials to develop a standardised petrol pricing framework.
“The summit will address pricing benchmarks, feedstock supply, and overall market stability in the deregulated downstream petroleum sector,” Ogaree stated on July 5.
As Nigeria continues to navigate a deregulated fuel regime, analysts believe the recent price reduction by NNPC may offer temporary relief to consumers, while highlighting the urgent need for coordinated industry pricing mechanisms.
More details are expected following the conclusion of the NMDPRA’s July summit.
