Abuja, Nigeria — Fuel prices at Nigerian filling stations in the Federal Capital Territory (FCT) fell on Friday following the federal government’s suspension of a planned 15 per cent import duty on petrol and diesel.
Reports indicate that Ranoil and Empire filling stations reduced petrol prices to N940 and N949 per litre, respectively, down from the previous N955 per litre. The adjustment represents a decrease of between N6 and N15 per litre across the city.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), attributed the price reduction directly to the suspension of the import duty. He said, “Yes, petrol price will drop further. The anxiety linked to the planned 15 per cent duty has been eased.”
The planned tariff, which had been expected to give Dangote Refinery a competitive advantage in the downstream sector, sparked concerns over potential increases in pump prices. Its suspension has alleviated those worries.
Earlier this month, the Nigerian National Petroleum Company Limited (NNPC) had set the fuel price at N945 per litre in Abuja. Since then, prices at most filling stations in the FCT have ranged from N940 to N955 per litre.
Ex-depot petrol prices at key refineries and depot owners reflect the broader pricing trend: Dangote Refinery’s petrol stood at N856 per litre, Aiteo at N854, and both NIPCO and Pinnacle at N858 per litre.
Market analysts note that the suspension of the import duty not only stabilizes retail fuel prices but also mitigates sudden cost shocks for consumers amid ongoing economic pressures.
IPMAN officials said they will continue to monitor pricing and urged filling stations to pass on savings to motorists promptly.
The federal government’s decision to halt the import duty underscores efforts to balance domestic refining incentives with consumer affordability in Nigeria’s downstream petroleum sector.
Consumers in Abuja can now expect modest relief at the pump, with price adjustments reflecting both government policy and competitive market forces among local fuel retailers.
