The Nigerian National Petroleum Company (NNPC) Limited has lowered the pump price of premium motor spirit (PMS), commonly called petrol, at its retail stations in Lagos and Abuja.
Checks by TheCable on Thursday showed that the price now stands at N900 per litre in Lagos and N940 per litre in Abuja.
This reflects a reduction of N10 and N5 respectively, from the previous rates of N910 in Lagos and N945 in Abuja.
In Lagos, the revised price was confirmed at the Apple Junction station along Ago Palace Way.
Meanwhile, the Lugbe airport road outlet in Abuja has also adjusted petrol prices to N940 per litre.
The latest reduction follows three weeks after Dangote Petroleum Refinery lowered its ex-gantry petrol rate to N828 per litre.
Earlier, on November 13, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced that the proposed 15 percent ad-valorem duty on imported PMS and diesel was no longer being considered.
President Bola Tinubu had initially approved the duty rate on October 21.