Fuel prices across Abuja and its environs eased on Friday following the federal government’s decision to suspend the planned 15% import duty on petrol and diesel.
Several filling stations, including Ranoil and Empire, reduced petrol prices to ₦940 and ₦949 per litre, down from ₦955. This translates to a drop of ₦6 to ₦15 per litre, depending on the station.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), said the suspension has relieved the uncertainty that had been driving prices upward. He also hinted that further reductions could follow if the current policy is maintained.
The planned 15% import duty had raised concerns that it would give Dangote Refinery a competitive advantage in the downstream sector while potentially increasing fuel prices nationwide. Its suspension has eased market anxieties and stabilized costs for consumers.
Earlier this month, the Nigerian National Petroleum Company Limited (NNPCL) had reduced its Abuja pump price to ₦945 per litre, signaling the start of the current downward trend.
At the wholesale level, Dangote Refinery’s ex-depot price is ₦856 per litre, while other depots such as Aiteo, NIPCO, and Pinnacle have prices ranging from ₦854 to ₦858 per litre.
Industry experts say continued supply stability and the absence of new import duties will be key to keeping pump prices manageable in the coming weeks.
