NNPC Yet to Cut Petrol Price, IPMAN Confirms Amid Reports

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has debunked claims that the Nigerian National Petroleum Company Limited (NNPCL) has reduced the price of Premium Motor Spirit (PMS).

On Monday, IPMAN’s spokesperson, Chinedu Ukadike, clarified that the ex-depot price of NNPC petrol remains unchanged at N940 per litre.

His statement follows reports suggesting that NNPCL had cut its retail pump price to N860 per litre, down from N940 and N965 in Lagos and Abuja.

Efforts to obtain confirmation from NNPC’s spokesperson proved futile, as there was no official response at the time of filing this report. A review of NNPC’s X (formerly Twitter) account also showed no official notice regarding any price adjustment.

Reacting to the development, Ukadike emphasized that any official price reduction by NNPCL would typically reflect on its marketers’ portal, but no such update had been made.

“As of now, the ex-depot price remains N940 per litre on NNPC’s portal. We have not been informed of any price reduction,” he stated.

Meanwhile, Dangote Refinery has adjusted its petrol price twice since February. The most recent cut occurred on February 26, 2025, when the refinery reduced its ex-depot petrol price from N890 to N825 per litre.