Some retail outlets of the Nigerian National Petroleum Company Limited (NNPCL) have lowered their petrol pump price to N860 per litre. PUNCH Online observed that while there has been no official communication from NNPCL Retail, some stations in Lagos have made the adjustment, reducing the price from N945 per litre as of Sunday.
This change follows a recent price reduction by the Dangote Refinery, which cut its ex-depot price of petrol from N890 to N825 per litre.
NNPC spokesperson Olufemi Soneye did not respond to calls or messages for comments regarding this development.
Hammed Fashola, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the price drop to PUNCH Online.
“It’s true; NNPC is now selling petrol at N860 per litre in their stations. Though this hasn’t been updated on the portal yet, they’ve informed me they are working on it,” Fashola said.
Billy Gillis-Harry, National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, also acknowledged the price cut but mentioned that he was still waiting for further details.
Last Wednesday, the Dangote Refinery introduced its own price change, marking another shift in Nigeria’s petrol market pricing.
