Lagos, March 12, 2026 – The Nigerian National Petroleum Company Limited (NNPCL) on Wednesday reduced its petrol price to N1,165 per liter from N1,260 per litre.
The price reduction has been reflected by all NNPCL filling stations in Abuja and environs.
The NNPC price reduction followed the Dangote Refinery price reduction on Tuesday which reduced its ex-gantry price of petrol to ₦1,075 per litre ₦1,175 per litre.
Anthony Chiejina, the Dangote Group Chief Spokesman, said the company had also reduced the price of diesel to ₦1,430 per litre from ₦1,620 per litre to reflect the global trend.
“Under the revised pricing structure, the gantry price of PMS has been reduced from ₦1,175 to ₦1,075 (₦100) per litre, while the coastal price has been lowered from ₦1,150 to ₦1,028 (₦122) per litre. The price of diesel has also been reduced from ₦1,620 to ₦1,430 (₦190) per litre,” he said.
“As responsible corporate citizens operating in a high-governance code and ethical environment, we believe it is imperative to reduce the price of our products as a reflection of the decline in global crude oil prices,” it explained in the statement on Tuesday.
“All our crudes are priced on the global benchmark price plus a $3 to $6 additional premium. Our forex is paid at the prevailing market rate of the day, with no subsidy in both crude and forex.
“For the avoidance of doubt, the crude supplied under the Naira-for-Crude arrangement is priced according to the global benchmark price plus a premium which is then converted to naira using the prevailing market exchange rate.”
