Fuel prices in Nigeria’s Federal Capital Territory have been adjusted downward following the federal government’s decision to suspend the planned 15 per cent import duty on petrol and diesel.
On Friday, Ranoil and Empire filling stations reduced petrol pump prices to N940 and N949 per litre, respectively, down from N955. The move translates to savings of between N6 and N15 per litre for motorists.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that the suspension of the import duty directly contributed to the price reduction.
“Yes, petrol prices will drop further,” Ukadike revealed, signaling additional relief for consumers in the coming days.