Some petrol stations operated by the Nigerian National Petroleum Company Limited (NNPCL) have reduced their pump prices to 860 Naira per litre.
The price drop, observed by PUNCH Online, comes days after the Dangote Refinery lowered its ex-depot petrol price.
While there has been no official announcement from NNPCL, several stations in Lagos have adjusted their pumps, down from 945 Naira per litre seen on Sunday.
NNPC spokesperson, Olufemi Soneye, was unavailable for comment.
Industry Confirmation
However, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, confirmed the price adjustment.
“It is true, NNPC is selling petrol at 860 Naira in the filling stations,” he told PUNCH Online. “Though this has not been reflected on the portal, they told me they are working on updating the portal.”
The National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, also confirmed the price reduction, stating, “They reduced the pump price earlier this morning but I’m yet to get the details.”
Dangote Refinery Impact
The price change follows an announcement by the Dangote Refinery last Wednesday, which reduced its ex-depot price, impacting the wider petrol market in Nigeria.
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