Petrol Prices Drop Across Filling Stations as Competition Heats up in Abuja

Petrol prices have dropped to as low as ₦1,295 per litre in parts of Abuja and its environs, as filling stations adjust their pump prices downward to attract more customers amidst growing competition among marketers. Findings from April 24, 2026, show that several retail outlets have reduced their prices from ₦1,330 to ₦1,295 per litre, representing a ₦35 decrease. The adjustment has been implemented by stations operated by AA Rano, Ranoil, and Mobil across different locations in the Federal Capital Territory.

This new pricing brings these outlets in line with other major players in the country’s downstream petroleum sector, including the Nigerian National Petroleum Company Limited, MRS, AP Ardova, and NIPCO, which have been dispensing petrol at rates between ₦1,290 and ₦1,295 per litre for several weeks. The price reductions have created what some observers are calling a fierce price war among fuel marketers vying for market share.

Reacting to the development, the President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, explained that the downward adjustment is purely driven by market forces and the need to boost customer patronage. He stated, “It is required to boost patronage.” Maigandi’s comments underscore how competition in the deregulated downstream sector is beginning to benefit consumers directly.

Despite ongoing volatility in global crude oil markets, with West Texas Intermediate crude trading at around $94 per barrel and Brent crude at approximately $105 per barrel amid geopolitical tensions in the Middle East, fuel prices have remained relatively stable in Nigeria since April 9, 2026. The stability comes even as the Trade Union Congress recently warned that without urgent government intervention, petrol prices could edge towards ₦2,000 per litre depending on the region. TUC President Festus Osifo had stated, “Today, comrades, we are seeing that the cost of petrol is edging towards N2,000 per litre depending on the part of the country that you are. Nigerian workers are already passing through excruciating pain as we speak”.

However, the current price reductions in Abuja suggest that competition among marketers is providing some relief to consumers. Findings also indicate that filling stations in Ilorin are dispensing petrol at even better prices, ranging between ₦1,250 and ₦1,270 per litre. Industry analysts attribute the downward trend to increased competition following the entry of the Dangote Refinery into the market, which has forced established players to adjust their pricing strategies to retain customers.

The price war is expected to continue as independent marketers seek to offload and maintain their customer base. IPMAN has previously predicted further drops in pump prices, advising motorists against panic buying. A Rivers State IPMAN chairman, Tekena ThankGod Ikpaki, had assured residents that “there is no need for panic buying because very soon we strongly believe that things will return to normalcy” following security reassurances from the United States government regarding safe passage for oil tankers through the Strait of Hormuz.

For now, motorists in the Federal Capital Territory and other parts of the country are beginning to feel some relief at the pump, even as the broader economic impact of global crude oil prices continues to unfold.