Nigerian National Petroleum Company Limited has reduced its premium motor spirit price.

Ekwutosblog correspondent who went round NNPCL retail outlets in Abuja on Tuesday gathered that state-owned firms have also slashed their petrol pump price to N895 per litre from N910.

This comes as NNPCL filling station along Kubwa Expressway, Wuse Zone 4, Wuse Zone 6 (Berger), and other locations in Abuja visibly adjusted their fuel pump price to reflect the new price.

The reduction represents an N15 downward petrol price review in NNPCL retail outlets.

NNPCL is not alone in the petrol reduction; Dangote Refinery’s retail partner, MRS filling stations in Abuja, also reduced their petrol price by N25 to N885 per litre from N910.

Similarly, other filling stations in Abuja, such as Ranoil and Empire Energy, also reduced their petrol pump prices to N910 and N915 per litre on Tuesday from the previous N920 and N935.

The development comes hours after Ekwutosblog exclusively reports that Nigerian Petroleum Products Marketers announced a plan to slash petrol prices to between N900 and N920 per litre in Abuja.

Recall that Dangote Refinery reduced its ex-depot petrol price twice this July so far.

The Independent Petroleum Marketers Association of Nigeria, IPMAN, Port Harcourt Depot Unit, has stressed that the Port Harcourt Refinery requires more than periodic rehabilitation, calling instead for a “consistent and experienced management focused on functionality and long-term sustainability”.

The position was made known in a statement signed on June 12, 2025, by the Chairman of IPMAN Port Harcourt Depot Unit, Tekena Thankgod Ikpaki.

The association was reacting to a recent statement by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Mr. Bayo Ojulari, who hinted that the Federal Government may consider selling some of its refineries as a solution to persistent rehabilitation and efficiency challenges.

Ikpaki noted that as major stakeholders in the downstream oil sector, petroleum marketers fully understand the strategic importance of the Port Harcourt Refinery, not just for Rivers State and the Niger Delta region, but for the Nigerian economy as a whole.

He observed that the brief resumption of operations at the refinery in November 2024, followed by another shutdown in May 2025 for maintenance, once again underscored the lingering operational and technical issues affecting Nigeria’s refineries.

Ikpaki, however, stated that it is less concerned about who manages the facility and more focused on ensuring the refinery functions optimally.

He said, “Whether the facility remains under the direct control of the NNPCL or is eventually handed over to a private entity, the most critical issue for us at this point is ensuring the Port Harcourt Refinery operates at optimal capacity.

“We believe that a fully functional refinery will have far-reaching benefits, offering alternative sources of refined products, stabilizing the domestic market, creating jobs, boosting local content, and contributing to national energy security,” the statement added.

The association appealed to the Federal Government and NNPCL to ensure that any future sale or concession process prioritizes competence and technical proficiency.

IPMAN urged the authorities to “prioritize competence, technical expertise, and a proven track record in refinery operations in selecting any prospective buyer or management partner, should the company proceed with the sale or concessioning process.”

The association emphasized that privatization should not be pursued for its own sake but must lead to measurable improvements in output, performance, and national benefit.

Ikpaki concluded by reaffirming the association’s willingness to collaborate with all stakeholders to ensure a successful transition.

“We are committed to working with all stakeholders to ensure that the transition, if and when it happens, will be transparent, accountable, and ultimately beneficial to Nigerians, particularly those of us who operate directly within the value chain,” he said.

President Bola Tinubu has declared Tuesday, July 15, 2025, a public holiday in honor of former President Muhammadu Buhari, who passed away on Sunday, July 13, 2025.

The Federal Government announced a seven-day national mourning period, during which national flags will fly at half-mast from July 13 to July 19.

Public Holiday:Tuesday, July 15, 2025, has been declared a public holiday to honor the late former President.

National Mourning: A seven-day national mourning period was declared by President Tinubu.

Flag Protocol:*National flags will fly at half-mast until Saturday, July 19.

Burial Arrangements:The late President’s burial is scheduled for Tuesday, July 15, 2025, in his hometown of Daura, Katsina State.