Fuel stations in Nigeria’s Federal Capital Territory, Abuja, reduced the pump price of Premium Motor Spirit (PMS) on Friday, following the federal government’s suspension of the proposed enforcement of 15% import duty on petrol and diesel.
Ranoil and Empire filling stations slashed their petrol prices to ₦940 and ₦949 per litre, down from ₦955, reflecting a reduction of between ₦6 and ₦15 per litre.
Chinedu Ukadike, the spokesperson for the Independent Petroleum Marketers Association of Nigeria, attributed the price reduction to the government’s suspension of the planned import duty. He further explained that the decision eased the concerns surrounding the planned tariff.
The suspended 15% duty—intended to give Dangote Refinery a competitive advantage in the downstream sector—was expected to push fuel prices higher. Earlier in the month, the Nigerian National Petroleum Company Limited had already lowered its pump price to ₦945 per litre in Abuja.
Currently, most filling stations in Abuja and nearby areas are selling petrol at prices ranging from ₦940 to ₦955 per litre. Meanwhile, ex-depot prices remain at ₦856 per litre at Dangote Refinery, with other depots such as Aiteo pricing at ₦854, and NIPCO and Pinnacle at ₦858.
