The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), also known as petrol, at its retail outlets in Abuja and surrounding areas.

The price was cut from ₦1,335 to ₦1,299 per litre, representing a ₦36 reduction.

The new rate was observed at several NNPCL filling stations across the Federal Capital Territory, including Lugbe, Kubwa Expressway and Wuse Zone 3.

The adjustment comes shortly after MRS filling stations, supported by the Dangote Refinery, reduced their pump price by ₦40 to ₦1,265 per litre, increasing competition among marketers.

Meanwhile, the House of Representatives has begun moves to address challenges in the downstream petroleum sector. Lawmakers have opposed the use of dollar-denominated charges on locally refined petroleum products and plan to investigate alleged irregularities in fuel import licence allocations.

The House Committee on Petroleum Resources (Downstream) said it would engage relevant stakeholders and regulatory agencies as part of an ongoing review of the Petroleum Industry Act (PIA).