By: Ojay Matthew
Filling stations in Abuja have reduced petrol prices following the federal government’s suspension of the planned 15 percent import duty on petrol and diesel. On Friday, Ranoil and Empire stations lowered pump prices to N940 and N949 per litre, down from N955, marking a reduction of between N6 and N15 per litre.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), attributed the price drop to the government’s decision to halt the import duty, saying the suspension has eased public concerns over a potential fuel price hike. “Yes, petrol price will drop further,” he told a national newspaper.
The suspension of the import duty also comes in the wake of concerns that the tariff would have given Dangote Refinery an advantage in the downstream sector while driving up fuel prices nationwide. Earlier this month, the Nigerian National Petroleum Company Limited (NNPC) had already reduced the pump price in Abuja to N945 per litre.
Currently, most filling stations in Abuja are selling petrol between N940 and N955 per litre. At the depot level, Dangote Refinery sells at N856 per litre, while other major depot owners such as Aiteo, NIPCO, and Pinnacle price petrol at N854, N858, and N858 per litre, respectively.
The development signals relief for motorists in the capital and surrounding areas, as the government’s policy adjustment helps stabilize fuel costs and maintain supply affordability.
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