Fuel prices in the Federal Capital Territory (FCT) dropped on Friday after the Federal Government suspended the planned 15% import duty on petrol and diesel.
Ranoil and Empire filling stations reduced their pump prices from ₦955 per litre to ₦940 and ₦949, respectively — a reduction of between ₦6 and ₦15 per litre across many stations in Abuja.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that the price drop was directly linked to the suspension of the 15% tariff. He added that pump prices are expected to fall even further in the coming days.
The suspended tariff had previously raised concerns that Dangote Refinery would gain a competitive edge, potentially driving up retail fuel prices nationwide. With that policy now on hold, the market has experienced some relief.
Earlier this month, the Nigerian National Petroleum Company Limited (NNPCL) reduced its petrol pump price to ₦945 per litre in Abuja.
According to the latest market checks, most filling stations in Abuja and surrounding areas now sell petrol between ₦940 and ₦955 per litre.
Current ex-depot prices remain as follows:
- Dangote Refinery: ₦856 per litre
- Aiteo: ₦854 per litre
- NIPCO: ₦858 per litre
- Pinnacle: ₦858 per litre
Marketers expect more price adjustments soon, depending on market stability and further government decisions.
