The Nigerian National Petroleum Company Limited (NNPCL) has lowered the retail price of petrol following an improvement in supply from the Dangote Refinery.

NNPCL announced that petrol will now sell for ₦945 per litre, down from the previous ₦955 per litre, marking a ₦10 reduction. The price adjustment has already taken effect at NNPCL service stations in Gwarimpa and Wuse Zone 4, Abuja.

Eterna, another major fuel retailer in the capital, has also aligned its pump price to ₦945 per litre, reflecting the easing of the supply disruptions that had driven prices higher nationwide over the past two weeks.

The supply challenges had initially caused a spike in fuel costs, but the situation has now improved thanks to better output from the Dangote Refinery and support from petroleum importers.

This development comes in the wake of President Bola Ahmed Tinubu’s recent approval of a 15% import duty on petrol and diesel, a policy that had sparked concerns over potential fuel price increases across the country.

With the current price drop, Nigerians can expect some relief at the pumps, though industry watchers note that future adjustments may occur as the effects of the import tax take hold.