In a welcome development for Nigerian motorists, the Nigerian National Petroleum Company Limited (NNPCL) has implemented another reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol. This marks a continued trend of price adjustments, providing some financial relief to consumers across the nation.
New Petrol Prices Across Major Cities
Checks conducted on Monday, November 17, 2025, confirmed the new pricing structure at NNPC retail outlets. In the commercial nerve center, Lagos, the price now stands at N910 per litre, down from the previous N920. The nation's capital, Abuja, now has a price of N945 per litre, reduced from N950. This represents a uniform decrease of N10 in both major cities.
However, the transition to the new rates is not yet universal. Some NNPC stations have cited logistical reasons for the delay. A pump attendant, Kunle Ademola, confirmed that while other stations have reduced prices, his outlet was awaiting official directives from management and needed to clear unsold stock purchased at the older, higher rate. He expressed optimism, stating, "I expect us to follow suit and reduce prices by the end of today."
Dangote Refinery Sets the Record Straight
The price reduction has sparked discussions about its underlying cause, particularly in light of the government's recent policy announcements. However, Dangote Refinery has issued a strong statement to dispel what it calls a "false and deliberately misleading" narrative.
The refinery explicitly denied that the pump price reductions by oil marketers were a consequence of the Federal Government's suspension of the 15% import tariff on petrol and diesel. Instead, the company clarified that the market shift was triggered by its own proactive decision to adjust its gantry and coastal prices over a week earlier.
Dangote Refinery stated that on November 6, it reduced its PMS gantry price from N877 to N828 per litre, a 5.6% decrease. Concurrently, its coastal price was lowered from N854 to N806 per litre. The company emphasized that attributing the current market adjustment to the tariff suspension is an attempt to "distort the facts and misinform the public."
Market Response and Regulatory Assurance
The wave of price reductions is not limited to NNPC stations. Other major marketers have also adjusted their pumps downwards. For instance, Ardova and MRS filling stations, which previously sold at N920, have now reduced their price to N900 per litre.
Amidst these changes, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has moved to reassure the public. The regulatory body confirmed that Nigeria has sufficient supply of petroleum products, including petrol (PMS), diesel (AGO), and liquefied petroleum gas (LPG), to comfortably meet consumption demands, especially with the festive season approaching.
The NMDPRA has therefore urged Nigerians to refrain from panic buying or hoarding, assuring them of a steady and uninterrupted supply chain.
Here is a snapshot of the new petrol prices in various states as of Monday, November 17:
- Lagos - N910
- Abuja - N945
- Anambra - N928
- Akwa Ibom - N920
- Bauchi - N915
- Niger - N955
- Osun - N920
- Delta - N920
- Rivers - N918
