In a move that has got Nigerians raising both eyebrows and fuel hoses, the Nigerian National Petroleum Company Limited (NNPCL) has dropped the pump price of petrol again—this time by ₦5.
From ₦895 per litre, the price is now officially ₦890 at NNPCL retail stations across Abuja, including the ever-busy Kubwa Expressway, Gwarimpa, and Wuse Zone 4. For those wondering, that’s about the cost of one egg saved—if you’re lucky not to live in Lagos.
This latest cut comes just days after the state-owned oil company previously adjusted the price. If you’re thinking, “Ah ah, what’s going on here?”, you’re not alone. A few motorists were seen checking the pumps twice, unsure whether it was a glitch or a national miracle.
Meanwhile, private players in the fuel game seem to be beating NNPCL at its own game. Dangote Refinery’s retail partners—AP Ardova, MRS, Optima, and Bovas—are currently dispensing at ₦885 per litre. That’s a whole ₦5 cheaper. As one Abuja cab driver joked, “Na Dangote dey dash us change now, no be government.”
So, what’s behind the sudden change?
According to Abubakar Maigandi, President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), this yo-yo pricing is the new normal in Nigeria’s deregulated petroleum market.
“Prices go up and down now based on global oil trends, forex rates, and internal logistics. This is not the old regulated regime anymore,” he explained. In other words, fuel pricing now behaves like tomatoes in Mile 12 market—today cheap, tomorrow expensive, depending on the weather and Wahala.
Is ₦5 off a big deal?
Let’s be real: ₦5 is not going to change anyone’s fuel budget drastically. If you buy 20 liters, you save ₦100—that’s not even enough for a meat pie these days. But in a country where every naira counts, any downward shift sparks hope.
And maybe that’s the bigger story here. After months of harsh economic winds, rising food prices, and a naira that seems to have joined a gym (always stretching), Nigerians are desperate for any sign of relief. Even a ₦5 drop feels like an early Christmas gift.
With global oil prices still unpredictable and the naira doing a dance of its own, fuel prices in Nigeria are likely to remain unstable for the foreseeable future. Experts say until local refining is in full swing and forex issues are sorted, we’ll keep playing this fuel price “hide and seek.”
For now, though, motorists are taking the small win and moving on.
As one Lagos okada rider told our reporter, “Dem reduce am by ₦5? Omo, na to use that extra money buy groundnut wey go hold belle till night.”
Na so we see am.
