Fuel Price Shake-Up: NNPCL Slashes Petrol by N95 After Dangote Refinery’s Reduction
The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of petrol by N95, following a similar price cut by the Dangote Refinery.
The development is expected to bring some relief to motorists and businesses across Nigeria, who have been grappling with rising fuel costs in recent months.
Industry sources say the adjustment came shortly after the Dangote Refinery announced a downward review of its petrol price, a move that triggered competition in the downstream petroleum sector.
With the new reduction, several filling stations operated by NNPCL have begun adjusting their pump prices, reflecting the N95 drop.
Energy analysts say the price cut highlights the growing influence of the Dangote Refinery on Nigeria’s fuel market, as local refining capacity begins to reshape pricing dynamics.
Consumers and transport operators have welcomed the reduction, expressing hope that sustained competition among suppliers will lead to more stable and affordable fuel prices.
The latest development comes amid ongoing reforms in Nigeria’s oil and gas sector aimed at improving supply and reducing reliance on imported petroleum products.
Source: Watchtower Media