BREAKING: Fuel Price Crash in Abuja as FG Halts 15% Import Duty — Pump Price Drops Nationwide

Daily Post has shared on its online handle that, In a swift move that sent ripples across the downstream petroleum sector, several filling stations in Abuja have slashed the pump price of Premium Motor Spirit (PMS) following the Federal Government’s suspension of its proposed 15% import duty on petrol and diesel.

Daily Post can confirm that major outlets, including Ranoil and Empire Oil, on Friday adjusted their pump prices from N955 to N940 and N949 per litre, respectively — a reduction of between N6 and N15 per litre.

Industry experts say this price drop marks the beginning of a broader downward trend, as the suspension of the tariff eases market fears and stabilises supply expectations.

Speaking exclusively to Daily Post, Chinedu Ukadike, spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), attributed the immediate reduction to the Federal Government’s decision.

> “Yes, petrol price will drop further,” Ukadike assured, noting that the anxiety triggered by the proposed tariff had created unnecessary volatility in the market.

The suspended 15% duty, analysts say, would have tilted the competitive balance in favour of Dangote Refinery, raising concerns over potential fuel price hikes nationwide.

Just days earlier, the Nigerian National Petroleum Company Limited (NNPCL) had adjusted its retail price to N945 per litre in Abuja, signalling the first wave of reductions. Now, most filling stations across the nation’s capital and surrounding areas have aligned, selling between N940 and N955 per litre.

Meanwhile, ex-depot prices indicate even more room for downward adjustment. Dangote Refinery’s current ex-depot price stands at N856 per litre, while major depot operators such as Aiteo (N854), NIPCO (N858), and Pinnacle (N858) have maintained competitive rates.

With the tariff suspension now in full effect, Nigerians may soon experience further relief at the pump — a welcomed development amid the current economic pressures.