NNPCL Reduces Petrol Prices Across Retail Stations

The Nigerian National Petroleum Company Limited (NNPCL) has adjusted the pump price of petrol at some of its retail outlets to N860 per litre, down from N945. This development comes shortly after the Dangote Refinery reduced its ex-depot price from N890 to N825 per litre.

While there has been no official announcement from NNPCL Retail, observations in Lagos revealed that some stations have already implemented the new price. The company’s spokesperson, Olufemi Soneye, has not responded to inquiries regarding the adjustment.

Confirming the change, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, stated that NNPCL stations are now selling at N860 per litre. He noted that although this update is yet to reflect on the official portal, efforts are being made to adjust it accordingly.

Similarly, Billy Gillis-Harry, National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, acknowledged the price reduction but indicated he was still gathering further details.

The recent price cut by the Dangote Refinery has introduced a new pricing dynamic in Nigeria’s petrol market, influencing retail prices across the country.