The Nigerian National Petroleum Company Limited (NNPCL) has announced another reduction in the pump price of premium motor spirit, marking the second downward adjustment in less than a week.
A correspondent who monitored several NNPCL outlets in Abuja on Thursday confirmed that the new price was set at N920 per litre, down from N930. The latest adjustment represents a N10 reduction.
The revised price was observed at the corporation’s filling stations in Gwarimpa, along the Kubwa Expressway, and in Wuse Zone 4. This follows an earlier cut on November 28, when the company dropped its petrol price by N15 per litre.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), noted that fuel prices are expected to decline further as competition among major players in the downstream sector grows stronger.