NNPC Filling Station Reduces Petrol Price by N25 in Lagos Amid Market Shifts
Petrol prices at filling stations operated by the Nigerian National Petroleum Company Limited (NNPC Limited) in Lagos have been adjusted downward once again, providing significant relief to motorists and consumers grappling with fluctuating fuel costs across the nation.
Market Survey Confirms Price Reduction
A comprehensive market survey conducted across multiple NNPC retail outlets in Lagos has revealed that the state-owned oil firm has implemented a notable reduction in its pump price. The new rate stands at N815 per litre, which represents a decrease of N25 from the previous price of N840 per litre.
Petrol attendants at an NNPC filling station located on Alfred Rewane Road in Ikeja confirmed the implementation of this new pricing structure to journalists. One attendant provided specific details, stating, "We commenced selling petrol at the revised rate of N815 on Thursday. While I cannot confirm if this adjustment applies uniformly to all stations, our management authorized this change."
Additional checks at various retail outlets in Apapa and other areas within Lagos State indicated that petrol prices remained at N840 at the time of reporting. However, industry observers anticipate that these prices will likely align with the new benchmark in the coming days as market adjustments propagate throughout the distribution network.
Factors Driving the Price Adjustment
The reduction in petrol prices at NNPC stations is closely linked to several key market developments. Primarily, the recent decision by Dangote Petroleum Refinery to slash its ex-depot price by N25—from N799 to N774 per litre—has created downward pressure on retail pricing across the sector.
The refinery surprised petrol importers and marketers when it communicated this price adjustment on Tuesday, February 10, 2026, noting that the new rate would take immediate effect. In an official notice issued by its Group Commercial Operations Department, Dangote Petroleum Refinery and Petrochemicals FZE explicitly stated, "This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre."
The notice further clarified that the PMS lifting bonus concluded at 12:00 a.m. on February 10, 2026, with corresponding credits for volumes loaded between February 2 and February 10 to be posted to account statements. Industry analysts interpret the closure of this bonus window, coupled with the price reduction, as signaling a strategic transition from volume-driven incentives toward a more stable and sustainable pricing regime as the refinery solidifies its domestic market presence.
Broader Industry Context and Developments
Concurrently, Dangote Refinery has announced that it has achieved its full designed capacity of 650,000 barrels of crude oil per day (bpd). This milestone represents a historic achievement, making it the first refinery globally to attain full nameplate capacity in a single train of that magnitude.
In related developments, Dangote Refinery has addressed circulating claims that it imports petrol into Nigeria, describing these allegations as misleading and deliberately propagated to undermine the country's refining ambitions. The refinery has indicated that it has identified individuals behind these claims and plans to disclose their identities and motives at an appropriate time while pursuing legal action against them.
The company has accused these parties of benefiting from past fraudulent financing transactions associated with the repair of state-owned refineries, further complicating the narrative around Nigeria's petroleum sector dynamics.
This series of price adjustments and industry announcements reflects an evolving landscape in Nigeria's petroleum market, with implications for consumers, marketers, and the broader economy as stakeholders navigate these changes.
