NNPCL reduces petrol price after weekend increase

The Nigerian National Petroleum Company Limited (NNPCL) decreased the price of petrol to N1,370 per litre on Monday, following an increase to N1,405 per litre over the weekend. According to a market survey by DAILY POST, NNPCL stations in Abuja lowered their prices to N1,370 per litre from N1,405. This represents a reduction of N35 per litre, bringing the price back to its original N1,370 per litre.

NNPCL filling stations in Berger, Wuse Zone 6 and Wuse Zone 4 were selling petrol at N1,370 per litre on Monday. This reduction is part of NNPCL's N66-per-litre discount, which is only available to motorists who utilize its newly launched app. Meanwhile, MRS and other oil stations across Nigeria have raised their petrol prices. Last Thursday, Finance Minister Taiwo Oyedele proposed a fixed petrol price of N1,350 per litre at NNPCL pumps, a move that some described as a return to fuel subsidy. However, Oyedele and the Presidency rejected this claim, stating that the measure was a discount.