NNPCL Cuts Petrol Price To N899 Per Litre, Follows Dangote Refinery’s Lead

Abuja, Nigeria– The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, to N899 per litre, down from the previous price of N1,020.

Dr. Billy Gillis Hary, the National President of PETROAN, welcomed the recent price reduction, stating that it would provide relief to motorists and Nigerians during the holiday season.

“The reduction in PMS prices by NNPCL demonstrates the company’s commitment to making petroleum products more affordable for Nigerians,” he said.

“We applaud NNPCL for responding to our call for more affordable PMS prices.”

Hary outlined the benefits of the price reduction for consumers, including, the reduced transportation costs: Lower PMS prices will allow motorists to spend less on fuel, increasing their disposable income.

Increased economic activity: Lower fuel prices will reduce production costs and boost demand for goods and services, stimulating economic growth. Improved standard of living: The price reduction will lower the cost of living, enabling Nigerians to afford basic necessities and enjoy a better quality of life.

Hary also commended Dangote Refinery for its earlier price reduction, noting that it had sparked healthy competition in the downstream sector.