The Traffic

NNPC Slashes Fuel Price Just Two Days After Sharp Hike, Sparks Mixed Reactions Across Abuja

In a surprising reversal, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has cut the pump price of petrol at its retail stations barely 48 hours after raising it — leaving many Nigerians puzzled over the nation’s volatile fuel pricing.

As of Wednesday morning, residents in Abuja reported a reduction in petrol prices at several NNPC outlets, including those in Wuse Zone 4, Zone 6, Gwarinpa, and Kubwa Expressway. The pump price dropped from ₦955 to ₦900 per litre, marking a ₦55 decrease.

Confirming the development, a pump attendant at one of the stations, who preferred to remain anonymous, disclosed:

“On Tuesday, we sold at ₦955. Today, it’s ₦900.”

This rapid shift comes just days after a sharp hike attributed to soaring ex-depot prices from major suppliers like Dangote Refinery and private depots — a situation that had triggered widespread concern among motorists and commuters.

Meanwhile, some independent marketers have started adjusting their prices, albeit modestly. Empire Energy and Ranoil stations in Gwarinpa now dispense petrol at ₦950 and ₦955 per litre, respectively — down from ₦970 and ₦971.

Notably, MRS stations have kept their price stable at ₦885 per litre since the beginning of the week.

Despite the NNPC-led reduction, there’s still uncertainty over whether a nationwide price drop will follow. The price fluctuations have further complicated the cost of transportation and deepened concerns over the economic strain facing households and small businesses.

As Nigerians grapple with the consequences of deregulated fuel pricing, many are left wondering what the next twist in the fuel saga will be.

By Haruna Yakubu Haruna