The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of petrol to N860 per litre, down from N920.
- NNPCL has reduced the pump price of petrol to N860 per litre from N920.
- Dangote Petroleum Refinery also lowered its ex-depot price from N890 to N825 per litre.
- This move has led to a ripple effect, attracting consumers to partner stations such as MRS, AP, and Heyden Petroleum.
This price cut, set to take effect on Monday, comes as a welcome relief for many Nigerians who have been struggling with high fuel costs since the removal of fuel subsidy in Africa’s most populous country.
This latest development follows a recent price adjustment by Dangote Petroleum Refinery, which lowered its ex-depot price from N890 to N825 per litre.
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The move has created a ripple effect, attracting consumers to Dangote’s partner stations, MRS, AP (Ardova Petroleum), and Heyden Petroleum, which offer more affordable petrol.
The reduction has been met with optimism from stakeholders in the petroleum sector. The National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, confirmed the NNPCL price cut and described it as a welcome development that brings relief to Nigerians.
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“It is true, NNPC is selling petrol at N860 in the filling stations. Though this has not reflected on the portal, they told me they are working on updating the portal,” he said.
Since the Dangote Refinery began operations last year, competition among major industry players has intensified, leading to more affordable fuel prices.
