Fuel Price Falls in Abuja as Suspension of 15% Import Duty Takes Effect

Nigerian filling stations across the Federal Capital Territory (FCT) witnessed a fresh downward adjustment in fuel prices on Friday, following the federal government’s suspension of the planned 15 per cent import duty on petrol and diesel.

PulseNets learnt that major outlets such as Ranoil and Empire instantly reflected the policy shift, reducing their pump prices to N940 and N949 per litre, respectively—down from N955. This development translates to a drop of between N6 and N15 per litre for motorists in Abuja and neighbouring areas.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed the trend, with its spokesperson, Chinedu Ukadike, attributing the reduction directly to the suspension of the controversial import duty.
“Yes, petrol price will drop further,” Ukadike told PulseNets, noting that the earlier anxiety triggered by the planned tariff had largely eased.

PulseNets obtained additional details indicating that the suspended 15 per cent duty would have significantly tilted competitive advantage toward the Dangote Refinery and potentially pushed fuel prices upward nationwide. Its reversal, therefore, came as a relief to both marketers and consumers.

Earlier in the month, the Nigerian National Petroleum Company Limited (NNPCL) had already reduced its pump price to N945 per litre within Abuja, a move that preceded Friday’s broader market adjustments.

Also Read:Fuel Price Hike Looms as Dangote Refinery Halts Petrol Sales in Naira

PulseNets reported that most retail stations are now dispensing petrol within the N940–N955 per litre band across the FCT.

As of Friday, ex-depot prices remained varied across operators: Dangote Refinery at N856 per litre, Aiteo at N854, while NIPCO and Pinnacle each maintained N858 per litre.