Petroleum products marketers in Nigeria have announced a reduction in the pump price of Premium Motor Spirit, popularly known as petrol.
This comes 48 hours after Dangote Refinery also announced a reduction in ex-depot price of the commodity.
President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, confirmed the reduction on Wednesday.
According to him, marketers in Northern Nigeria, including Abuja, have slashed PMS prices from Wednesday to between N930 and N940 per litre from N945 and N975.
In Lagos State, Maigandi said its members dispense petrol at N890 per litre, down from N925. He added that IPMAN members sell fuel at between N950 and N960 in eastern parts of Nigeria.
"Our members have reduced petrol prices on Wednesday following Dangote Refinery's ex-depot price drop," he said.
It could be recalled that on Monday, Dangote Refinery reduced its ex-depot price of petrol to N840 per litre from N880 on Monday.
The Nigerian National Petroleum Corporation Limited, NNPCL, is yet to effect downward price adjustment.
However, it is expected that the government-owned corporation will follow suit in the coming days.