Nigerian filling stations in the Federal Capital Territory (FCT) on Friday reduced petrol pump prices after the federal government suspended the planned 15 percent import duty on petrol and diesel.
The Ranoil and Empire filling stations lowered their pump prices to N940 and N949 per litre, respectively, down from N955, marking a decrease of between N6 and N15 per litre.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), attributed the reduction to the government’s suspension of the import duty.
“Yes, petrol price will drop further,” he said, noting that the suspension has eased the anxiety surrounding the planned tariff.
The government’s suspension of the 15 percent import duty had also raised concerns that it would give Dangote Refinery an advantage in the downstream sector and potentially push up fuel prices.
Earlier this month, the Nigerian National Petroleum Company Limited (NNPC) had reduced petrol pump prices in Abuja to N945 per litre.
Currently, most filling stations in Abuja and its environs are selling fuel between N940 and N955 per litre.
Meanwhile, ex-depot petrol prices at Dangote Refinery stand at N856 per litre, with other depot owners such as Aiteo (N854), NIPCO (N858), and Pinnacle (N858) reflecting similar rates.