The Nigerian National Petroleum Company Limited (NNPC) has reduced the pump price of Premium Motor Spirit (PMS), popularly known as petrol, to N890 per litre, down from N895. This marks the second price cut by the state-owned oil company within a week, representing a N5 reduction.
The price adjustment has triggered immediate response across major cities. Filling stations in Abuja, Lagos, Kano, Port Harcourt, and other metropolitan areas have started recalibrating their pumps to reflect the new price.
Observations by Daily Correspondents showed long queues forming at some outlets, as motorists hurried to take advantage of the reduction.
Although the NNPC has not officially stated the reason for the price slash, it comes amid growing public pressure and concerns over rising living costs, especially transportation and food prices, which have been largely driven by high fuel costs.
Energy experts suggest that the adjustment could be an attempt by the federal government to ease public hardship, especially as the country grapples with double-digit inflation and declining purchasing power.
Despite the reduction, Nigerians continue to call for more sustainable solutions to the nation’s fuel pricing model, including transparency in the downstream sector and broader energy reforms.
