The Nigerian National Petroleum Company (NNPC) Limited has implemented significant price reductions for premium motor spirit (PMS), commonly known as petrol, at its retail outlets nationwide.

In Abuja, prices have dropped by N85 per litre, from N965 to N880. This was confirmed at the NNPC retail outlet in Federal Housing, Kubwa, where a pump attendant stated the price change took effect Monday afternoon.

Lagos consumers will benefit from even lower prices, with NNPC stations at Irawo, Ransco bus stop on Ikorodu Road and along Idimu Road now selling petrol at N860 per litre. This follows an earlier reduction in Lagos from N960 to N945 per litre on February 13.

The latest price cuts come shortly after Dangote Petroleum Refinery lowered its ex-depot price to N825 per litre—the refinery's second reduction in February. Dangote had previously decreased prices from N950 to N890 earlier in the month, representing a total reduction of N125 per litre since January.

Other filling stations have also adjusted their prices accordingly, with MRS now selling at N860 per litre and Heyden stations at N865 per litre in Lagos.​​​​​​​​​​​​​​​​