In all of its retail locations across the country, the Nigerian National Petroleum Company (NNPC) Limited has lowered the price of Premium Motor Spirit (PMS), also referred to as gasoline.
In Abuja, the cost of gasoline has decreased by N20 per liter at NNPC retail locations, from N1,060 to N1,040.
The price adjustment went into effect early on Saturday.
Independently owned filling stations still charge higher prices, though, with prices varying by location and ranging from N1,115 to N1,120 per liter.
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Stakeholders believe that domestic output from the Dangote and Port Harcourt refineries would soon result in more affordable fuel prices.
The Port Harcourt refinery, which started production in November, has joined Dangote’s 650,000 barrels per day refinery, which already started supplying goods to the Nigerian and international markets.
