In all of its retail locations in Lagos and Abuja, the Nigerian National Petroleum Company (NNPC) Limited has lowered the pump price of premium motor spirit (PMS), commonly referred to as gasoline.  

According to a study conducted on Thursday, the cost of gasoline has decreased to N900 per litre in Lagos and N940 per litre in Abuja.  

The most recent change shows a N5 drop from N945 per litre in Abuja and a N10 drop from N910 per litre in Lagos.  

Three weeks have passed since Dangote Petroleum Refinery lowered the price of its ex-gantry gasoline to N828 a litre, a move that has continued to affect market prices across the country.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) previously declared on November 13 that the anticipated 15 percent ad-valorem tariff on imported gasoline and diesel would no longer be imposed.

“It should also be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view,” NMDPRA said.

Prior to regulators confirming the reversal, President Bola Tinubu had first approved the duty on October 21.

Source