Breaking; Petrol Pump Price reduced to N860 Per Litre

Petrol Price has been reduced to N860 Per Litre

Naijaonpoint Media reports that some retail outlets of the Nigerian National Petroleum Company Limited (NNPCL) have reduced their petrol pump price to N860 per litre, down from N945. While there has been no official statement from NNPCL Retail, several filling stations in Lagos have already adjusted their prices.

This development follows the Dangote Refinery’s decision to lower its ex-depot price from N890 to N825 per litre last week.

NNPCL spokesperson Olufemi Soneye has not responded to inquiries, but the National Vice President of the Independent Petroleum Marketers Association of Nigeria, Hammed Fashola, confirmed the price adjustment. He noted that while the update has not yet been reflected on the official portal, NNPCL is working on it.

Billy Gillis-Harry, President of the Petroleum Products Retail Outlet Owners Association of Nigeria, also acknowledged the price change but stated that he was still awaiting further details.

With Dangote Refinery setting a new price regime, the Nigerian petrol market continues to experience adjustments in pricing.