This represents a reduction of up to ₦150 per litre, compared to previous prices that ranged between ₦1,300 and ₦1,350.
The refinery also adjusted its coastal price downward to ₦1,153 per litre, as part of a broader review of its pricing structure.
The development comes despite continued global pressure on oil markets, driven in part by geopolitical tensions in the Middle East.
Industry analysts say the move could have a ripple effect across Nigeria’s downstream sector, potentially influencing depot rates and pump prices nationwide.
The price cut is also being viewed as a competitive strategy by the refinery to strengthen its position in the domestic fuel market and reduce supply costs.
Market stakeholders will now be watching closely to see how quickly the reduction reflects at filling stations and whether it brings relief to consumers.
