, with a litre now selling at ₦815, down from ₦835.){kind=link}
By:Abdullahi Inuwa
Nigerians woke up to another relief at the pump on Tuesday as the Nigerian National Petroleum Company Limited (NNPC) announced a fresh reduction in the pump price of Premium Motor Spirit (PMS), with a litre now selling at ₦815, down from ₦835.
It is the second price cut within weeks, coming on the heels of an earlier ₦80 reduction in December 2025, a move that had already eased pressure on motorists and transporters battling rising costs.
Industry watchers say the latest drop is not accidental. It is being driven by intensifying competition following the entry of the Dangote Refinery into Nigeria’s downstream petroleum market—an intervention many analysts describe as a game-changer.
Across major cities, the impact is already visible. Some independent marketers, including MRS Oil, are reportedly dispensing petrol for as low as ₦739 per litre, sparking renewed price wars that were once unthinkable in Nigeria’s fuel sector.
“This is what a competitive market looks like,” an energy analyst told our correspondent. “For years, pricing was largely dictated by a single supply source. Now, with domestic refining and multiple players in the market, prices are responding to competition rather than monopoly.”
The development signals a new phase in Nigeria’s fuel economy, where local refining capacity, market forces and consumer choice are beginning to reshape outcomes at the pump. While challenges remain—particularly around distribution, logistics and exchange-rate pressures—the direction appears clear.
For many Nigerians, the question is no longer if prices can fall, but how far competition can drive them down.
What do you think?
Is this the beginning of sustained fuel price stability, or just a temporary breather? Should government step back and let competition fully dictate prices—or keep a firm regulatory hand?
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