BREAKING: Nigerian Filling Stations Slash Fuel Prices After Government Suspends 15 Percent Import Duty

Fuel prices across Abuja dropped noticeably on Friday after the Federal Government suspended its proposed 15 percent import duty on petrol and diesel. The decision has prompted immediate downward adjustments at filling stations. This has brought relief to motorists who have been grappling with soaring energy costs.

A Daily Post correspondent who monitored the situation reports that Ranoil and Empire filling stations reduced their petrol pump prices to N940 and N949 per litre, respectively. This is down from the previous average of N955. The change marks a reduction of between N6 and N15 per litre depending on the station and location.

The price review comes just days after concerns grew that the implementation of the import duty would push fuel prices even higher. It also raised fears of inflationary pressure across the economy.

The Spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, confirmed that the suspension of the planned import duty directly influenced the price reduction.

“The anxiety associated with the planned 15 percent import duty on petrol has been eased following the tariff suspension,” Ukadike said. He noted that marketers expect prices to fall even further in the coming days as supply stabilises and distribution costs adjust.

He added, “Yes, petrol price will drop further.” This signals that more reductions may be on the horizon depending on policy consistency and market behaviour. 

The Federal Government earlier announced that it was halting the planned 15 percent import duty. Analysts say this would have given Dangote Refinery a competitive advantage in the downstream sector. The tariff had raised concerns that fuel prices might spike again, especially in urban centres such as Abuja, Lagos, and Port Harcourt.

By suspending the duty, the government aims to stabilise the market and prevent a fresh cycle of price increases. It also seeks to ease pressure on consumers and businesses already struggling with high transportation and food costs.

This development comes after the Nigerian National Petroleum Company Limited reduced its own fuel pump price to N945 per litre in Abuja earlier in the month. That adjustment had triggered mild price corrections. Friday’s reductions mark a more significant shift in the retail market.

As of Friday afternoon, most filling stations in Abuja and surrounding areas were selling petrol at prices ranging from N940 to N955 per litre.

Ex depot prices paint a clearer picture of the evolving market.

Dangote Refinery sells at N856 per litre.
Aiteo sells at N854 per litre.
NIPCO sells at N858 per litre.
Pinnacle Oil sells at N858 per litre.