Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in its petrol pump price on Wednesday, July 16, 2025, for its Lagos retail stations.

Checks by Legit.ng showed that in Lagos, NNPC retail outlets are dispensing fuel at N865 per litre to motorists.

The new price for Lagos reflects a N20 reduction, bringing the pump price down from N885 to N865 per litre.

In Abuja, the pump price has been set at N910 per litre, representing a N15 drop from the previous N925 per litre.

With the latest adjustment, NNPCL retail outlets are now selling petrol at the same rate as Dangote Refinery’s partner stations, helping to bring relief to consumers amid high transportation and energy costs.

NNPCL is not alone in implementing a price cut.

MRS filling stations, a retail partner of Dangote Refinery, also reduced their pump price to N885 per litre, down by N25 from the previous N910 per litre.

Similarly, other filling stations such as Ranoil and Empire Energy in Abuja have also adjusted their prices.

Ranoil reduced its pump price to N910 per litre, while Empire Energy now sells at N915 per litre, down from their earlier prices of N920 and N935, respectively.

In Lagos, Ardova Hyden, Mobil, First Royal, among others, have slashed their pump prices to the N865 and N870 prices range.

MRS in a message shared on X revealed that its petrol prices will sell for N865 per litre in Lagos, down from the previous N885.

In the South-West region, the price has been cut from N895 to N875, while consumers in the North-East will now pay N895 per litre instead of N915.

Similarly, the price in the North-West and Central regions has been reduced to N885 from N905, and in the South-South and South-East, the new price is N895 per litre, down from N915.

Kunle Adebayo, a commercial driver seen buying from the Ardova filling station at Egbeda, told Legit.ng:

"Yes, I can confirm that this is the cheapest. I drove from Ipaja just to buy here. All other filling stations were selling above N880 per litre. We hope other stations follow suit."

Earlier, Legit.ng reported that an expert has advised NNPC Limited to use strategic judgment and foresight if it decides to sell the four refineries under its control.

According to Prof. Wumi Iledare, Professor Emeritus of Petroleum Economics & Director, Emmanuel Egbogah Foundation, NNPC Limited has the legal authority to sell its assets as a commercial entity under the Petroleum Industry Act (PIA) 2021, but any sale of Nigeria's state-owned refineries must be done strategically and not in a hurry or out of emotion.

The experts also caution that a change in the business model is crucial for the success of the refineries

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Proofreading by James Ojo, copy editor at Legit.ng.

Source: Legit.ng