The Nigerian National Petroleum Company Limited (NNPCL) has lowered the price of petrol, also called premium motor spirit (PMS). This is good news for drivers across the country.

A reporter from DAILY POST visited several NNPCL petrol stations in Abuja, including Kubwa Expressway, Central Business District, and Wuse Zone 4. The reporter found out that the price of petrol has dropped from N910 per litre to N895 per litre. This means petrol is now N15 cheaper than before at these stations.

A motorist named Muhammad Ibrahim said the price cut was expected. He believes that reducing the price will give Nigerians better fuel options and save them money.

He also mentioned that many other filling stations had already lowered their prices, so it was only right for NNPCL to follow.

This new price drop from NNPCL comes just days after the Dangote Refinery and its partners reduced their fuel prices to between N875 and N895 per litre in Lagos and Abuja.

DAILY POST also reported that some other petrol stations had already reduced their prices to between N900 and N910 per litre.

Earlier, Chinedu Ukadike, who speaks for the Independent Petroleum Marketers Association of Nigeria, said that private fuel marketers are now able to compete more fairly with NNPCL. This is because the government has allowed more freedom in the fuel market.

He added that NNPCL still controls a large part of the market, especially as the country is working to fix some big refineries in Port Harcourt, Warri, and Kaduna.

This price cut by NNPCL is a positive step toward giving Nigerians more affordable fuel options and encouraging competition in the fuel market.