The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to N910 per litre in Abuja.
This marks a slight relief for residents of the Federal Capital Territory, where fuel prices had previously surged above N1000 per litre at some filling stations. The adjustment follows recent fluctuations in global crude oil prices and domestic supply dynamics.
Industry sources suggest the price cut is part of efforts to stabilise fuel costs and cushion the effects of inflation on citizens, especially as the country continues to grapple with economic reforms.
While the reduction is specific to Abuja for now, observers expect other regions to experience similar adjustments in the coming days, depending on logistics and supply conditions.
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