NNPC Reduces Petrol Pump Price

The Nigerian National Petroleum Company (NNPC) Limited announced a reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, at its retail outlets in Abuja over the weekend.

Industry stakeholders, including oil marketers and trade associations, are optimistic that the rise in local production from the Port Harcourt and Dangote refineries will contribute to more competitive fuel pricing in the coming months.

The Port Harcourt refinery’s output has now been added to Dangote’s 650,000 barrels per day refinery, which recently started supplying products to the Nigerian market.

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