National Telescope national telescope newspaper
Some retail outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) have reduced the pump price of petrol to N860 per litre, down from N945.
A market survey in Lagos on Monday revealed that some NNPC filling stations had adjusted their pumps to reflect the new price, though there has been no official announcement from the company.
The price adjustment follows the recent reduction in the ex-depot price of petrol by the Dangote Refinery, which slashed its rate from N890 to N825 per litre last week.
Confirming the development, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, stated that while the change has yet to be reflected on NNPC’s official portal,
“they told me they are working on updating the portal.”
Similarly, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, noted that while he was aware of the reduction, he was still gathering full details.
Efforts to get an official statement from NNPC spokesperson Olufemi Soneye were unsuccessful, as he did not respond to calls or messages.
The latest price reduction is expected to influence market trends, as industry players and consumers watch for further adjustments in the coming days.
