₦airaland Forum

Nigerian filling stations have once again reduced premium motor spirit pump prices to compete with the Nigerian National Petroleum Company Limited, NNPCL, and other fuel outlets nationwide.

DAILY POST gathered on Wednesday that AA Rano, Raniol, Emadab, Empire Energy, Total, Mobil, and NIPCO filling stations in the Federal Capital Territory, Abuja, and surrounding areas have recently lowered their fuel prices.

AA Rano, Ranoil, Mobil, and NIPCO have adjusted their fuel price to N890 per litre, down from N945, matching the price at NNPCL retail outlets in Abuja.

Others, including Empire Energy, Emadab, and Total filling stations in Gwarimpa, Abuja, have reduced their petrol pump prices to between N899 and N910, from N945 and N935, respectively.

Reacting, the National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, said the latest drop in fuel prices was due to a reduction in ex-depot and crude oil prices.

“It is due to a drop in the petrol ex-depot price, which stood between N820 to N845 per litre, and lower crude oil prices,” he told DAILY POST.

NNPCL had earlier reviewed its fuel price downward to N890 in Abuja and N865 per litre in Lagos following Dangote Refinery’s ex-depot price adjustment to N820.

DAILY POST reports that the crude oil price on Wednesday morning stood at $66.52 and $63 per barrel for Brent and West Texas Intermediate crude futures, according to oilprice.com.

Source: https://dailypost.ng/2025/08/20/nigerian-filling-stations-reduce-fuel-price-to-compete-with-nnpcl-others/

Market forces.
But does this regime have any plans to get this fuel price to where they met it
What plans do other contestants have?
We desperately need well structured public debates btw our political aspirants

Modified: True fuel subsidy is a thing of ad past but what has govt done to cushion it's effect esp on d dying masses

Ftc for the past 5 years. Dedicated this to the ftc

Good news as the competetion is now driving the price down

When Nigeria is truly ready for a change...we will know

Good to see queues are now things of the past..

Good to see that customers are now kings and queens at petrol stations...and not at the mercies of fuel attendants and station managers..

God is wonderful

Although, still very high...let the competition go on

fmlala:
Good news as the competetion is now driving the price down

until it’s down to at least 500 . Nothing has changed.

AmazingGenius:
Source: https://dailypost.ng/2025/08/20/nigerian-filling-stations-reduce-fuel-price-to-compete-with-nnpcl-others/

Not significant enough, We want it to go as low as N600. I hope we will get there.

what was it before the infamous "subsidy is gone" with no observable post subsidy impact aside looting

adioolayi:
Good to see queues are now things of the past..

Good to see that customers are now kings and queens at petrol stations...and not at the mercies of fuel attendants and station managers..

God is wonderful

Although, still very high...let the competition go on

Man, What are you saying?

You are king with high price of commodities driven by expensive fuel price...

I believe we can do more as a good citizen of this country.

One day 0ne trouble with these 🛢 🪔 .Even if dem reduce am to 400 PL,one Evil transporters ,okavango won't reduce price

E no get how fuel price can be reduced to even 800# its a case of 10 steps backward, 1 step toward, then 7 steps backward, then 1/2 of 1 step toward, then 20 steps backward, and son on and forth. Buhari, a badman with good intentions :tilimpoo a Goodman with bad intentions. Watch how some wey their parents still dey feed go begin praise them tinumboo

The bird that flew from the ground to an ant hill is still on the ground. The day we are ready for a change we will know.

One little price drop they won't allow us rest, price that will soon go up, mtchwee they should allow us rest abeg, price they meet @ ₦180.

bewisemasses:
Market forces.
But does this regime have any plans to get this fuel price to where they met it
What plans do other contestants have?
We desperately need well structured public debates btw our political aspirants

The Russian/ Ukraine war is certainly a huge factor to the crude oil price which determines the fuel price.

Our own crude has been used to borrow money. Dangote is buying crude oil from other countries. Until our refineries can be supplied with Nigerian oil, the market prices will continue to fluctuate with world crude oil prices and transportation to Nigeria

NNPC.. their own matter is another thing on another level

Babawee:
Man, What are you saying?

You are king with high price of commodities driven by expensive fuel price...

I believe we can do more as a good citizen of this country.

Can you share your experience with fuel scarcity?

adioolayi:
Good to see queues are now things of the past..

Good to see that customers are now kings and queens at petrol stations...and not at the mercies of fuel attendants and station managers..

God is wonderful

Although, still very high...let the competition go on

Thank God for his mercies. Fuel stations attendants don show people shege pro Max those days

Waking up very early or sleeping at filling stations, fighting etc just to get petrol.. chaiii

All these audio reduction
When will it drop to N400
Imagine taking fuel from less than N200 to almost N900 in two years "
If you're not Pharaoh what are you?

AmazingGenius:
Source: https://dailypost.ng/2025/08/20/nigerian-filling-stations-reduce-fuel-price-to-compete-with-nnpcl-others/

How far away or how near is this N890 from the price of N70, which Oshiomhole’s Association of Past Criminals, APC complained about when they made Jonathan look like a clueless, corrupt and incompetent politician?

Do we know better now? Or maybe we don’t know better?

anonimi:
Petrol should never cost more than N70 per litre, says APC

January 19, 2015

The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.

On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.

But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.

It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.

https://www.thecable.ng/petrol-never-cost-n70-per-litre-says-apc/

Which nonsense reduction?? How much was fuel just some few years back? Oga Jonah where you dey walele
Anything above 3H can never be okay

dalass:
The Russian/ Ukraine war is certainly a huge factor to the crude oil price which determines the fuel price.

Our own crude has been used to borrow money. Dangote is buying crude oil from other countries. Until our refineries can be supplied with Nigerian oil, the market prices will continue to fluctuate with world crude oil prices and transportation to Nigeria

NNPC.. their own matter is another thing on another level

Our future crude oil production was used by ebilokan to borrow $3.3 billion from Afreximbank to defend the Naira.

27 months after hitting the ground running, ebilokan has failed to meet his own N300/$1 short term target.

What do you think happened to the $3.3 billion loan

ijustdey:
Nigeria will pay an interest of 11.85 percent per annum on the $3.3 billion “pre-export finance facility” (PxF) facilitated by the Nigerian National Petroleum Company (NNPC) Ltd and arranged by Afrexim Bank, TheCable can report.

Until now, the fine details of the transaction, which has a five-year tenor, had been withheld by all parties involved.

A similar cocoa-backed $800 million facility arranged for Ghana by its cocoa marketing board attracts an interest of 8 percent per annum.

Bilateral lenders, such as the International Monetary Fund (IMF), would typically charge 1-3 percent with a longer tenor.

In the details seen by TheCable, Nigeria pledged a total of 164.25 million barrels of crude oil — at 90,000 barrels per day — starting from 2024 to repay the loan through Project Gazelle Funding Ltd, an “orphan” special purpose vehicle (SPV) incorporated in Bahamas for the PxF.

Effectively, the NNPC has pledged 38.58 percent of five years’ worth of tax and royalty oil to secure the loan.
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‘DOLLAR LIQUIDITY TO STABILISE THE NAIRA’

The national oil company announced in August 2023 that the PxF was to support the federal government “in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market”, describing it as “a relief for the naira”.

It called the facility “crude oil repayment” with an upfront cash loan “against proceeds from a limited amount of future crude oil production”.

At the time, the dollar exchanged for an average of N775 in the official market and N885 on the streets.

The rates have now moved to N1,035/$ (official) and N1,230/$ (parallel).

https://www.thecable.ng/exclusive-nigeria-to-pay-11-85-interest-on-3-3bn-afriexim-nnpc-loan-pledges-164m-barrels-as-security/amp

Kukutente23:
All these audio reduction
When will it drop to N400
Imagine taking fuel from less than N200 to almost N900 in two years "
If you're not Pharaoh what are you?

You do remember that Buhari made provision for fuel subsidy only up to the time he would have left office? He left the evil of subsidy removal to his successor... The money for subsidy was borrowed and many oil marketers kept collecting money for fuel imports they didn't make. Hopefully Russia will end its war, Iran or any other oil producing nations will not be involved in wars. This is what makes crude oil skyrocket and increase in pump price.

At least we have left the era of importing refined fuel.. thank God!

MaziObinnaokija:
One day 0ne trouble with these 🛢 🪔 .

Even if dem reduce am to 400 PL,one Evil transporters ,okavango won't reduce price

Was it more than N400 in January 2023 when ebilokan promised to crash the price

Deltafirstson:
Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.

In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.

However, pump price of fuel hit N537 per litre days after Tinubu ended subsidy.

On Tuesday, the price climbed further to N617, a development that the Nigerian National Petroleum Corporation Limited (NNPCL) attributed to “market forces”.

Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.

Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.

At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.

However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.

“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.

King Wasiu Ayinde Marshall, a Fuji musician who performed at the rally, interrupted the president’s speech with chants as the crowd cheered.

On the campaign podium with the president were Vice-President Kashim Shettima; Pa Bisi Akande, interim National Chairman of the APC; Femi Gbajabiamila, Chief of Staff to the President; Senator Gbenga Daniel; among other bigwigs of the ruling party.

Tinubu went further to say Nigerians would defy the acute fuel scarcity at the time and trek to cast their votes.

“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200/N500 per litre. Go and relax, we will crash the prices,” he had said.

https://dailytrust.com/breaking-video-of-tinubu-campaigning-to-crash-fuel-

he had said in the 7th minute of the video.



https://www.youtube.com/watch?v=4JH8CC_JdUA

This is a healthy competition. That's why free market is the best way to go in an economy

dalass:
You do remember that Buhari made provision for fuel subsidy only up to the time he would have left office? He left the evil of subsidy removal to his successor... The money for subsidy was borrowed and many oil marketers kept collecting money for fuel imports they didn't make. Hopefully Russia will end its war, Iran or any other oil producing nations will not be involved in wars. This is what makes crude oil skyrocket and increase in pump price.

At least we have left the era of importing refined fuel.. thank God!

Stop telling lies
Buhari made provision for fuel subsidy till the end of June. He left office in May ending
What is the price of crude now and how much do you expect it to drop to? Is Nigeria not a major beneficiary when crude price rises?
Who told you we have stop importing refined fuel. Enlighten yourself!

bewisemasses:
Market forces.
But does this regime have any plans to get this fuel price to where they met it
What plans do other contestants have?
We desperately need well structured public debates btw our political aspirants

No government can get it back to pre-2023 prices. That era is gone forever. That price was artificial to begin with, we only had that because of subsidy. Let's accept this new price and stop yearning for a price that would never come back (unless subsidy is returned)

dalass:
You do remember that Buhari made provision for fuel subsidy only up to the time he would have left office? He left the evil of subsidy removal to his successor... The money for subsidy was borrowed and many oil marketers kept collecting money for fuel imports they didn't make. Hopefully Russia will end its war, Iran or any other oil producing nations will not be involved in wars. This is what makes crude oil skyrocket and increase in pump price.

At least we have left the era of importing refined fuel.. thank God!

What rock are you living under? Who told you we have stopped importing fuel?

bewisemasses:
Market forces.
But does this regime have any plans to get this fuel price to where they met it
What plans do other contestants have?
We desperately need well structured public debates btw our political aspirants

Getting it to where they met it means fuel subsidy and Nigerians don't want to go that route again.

Kukutente23:
All these audio reduction
When will it drop to N400
Imagine taking fuel from less than N200 to almost N900 in two years "
If you're not Pharaoh what are you?

He first took it to over 600 within an hour of inauguration.

This represented an over two hundred percent hike in one day.

I researched - that was a first in history for any country in the world.

He then actually took it to over N1000 a little over a year later immediately after the EndBadGovernance Protests.

Not Pharaoh - only Satan himself does that.

bewisemasses:
Market forces.
But does this regime have any plans to get this fuel price to where they met it
What plans do other contestants have?
We desperately need well structured public debates btw our political aspirants

Which of the potential in coming regime will go back to subsidy fraud

Don27tiky:
until it’s down to at least 500 . Nothing has changed.

Exactly. Was about to post same. It should come down to N500 or less.