Petroleum retailers and marketers have hinted that Nigerians should expect more fuel price reductions as the Nigerian National Petroleum Company Limited and Dangote Refinery commenced a fresh price war following fuel drops by both firms.
This comes as NNPCL on Monday announced its new petrol prices of N860 and N880 per litre, respectively, in Lagos, Abuja, and across the country, respectively.
NNPCL retail outlets along the Kubwa expressway in Abuja, the Central Business District, opposite the company’s headquarters, and other locations have reflected the new pump price of N880 per litre.
Six days ago, Dangote Refinery dropped its petrol price to N880 per litre in its partners’ fuel outlets, MRS filling station, and other filling stations in Abuja.
This has led to a fresh petrol price war between NNPCL and Dangote Refinery, the situation means Nigerians would now choose to buy petrol between NNPCL and Dangote retail outlets.
Since February 2025, Dangote petrol has been selling at an advantageous price compared to NNPCL.
Speaking on the development, the National President of Petroleum Retailers Outlets Owners Association, Billy Gillis-Harry, and his counterpart of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigadi, said Nigerians should expect more petrol price drops amid the competition between NNPCL and Dangote refinery.
According to Gillis-Harry, Nigerians are in an advantageous position in what he described as a necessary business matrix between NNPCL and Dangote Refinery.
He stressed that the price competition has brought smiles on the faces of Nigerians battered by the rising cost of living.
“The new price has been reflected on our portal. This price reduction will be a huge relief to many Nigerians struggling to make ends meet.
“The reduction in PMS prices is expected to positively impact Nigerians’ lives.
“We are engaging NNPCL to also bring down the petrol prices for the benefit of Nigerians and marketers,” he told journalists.
Similarly, Maigandi described what is happening in the downstream oil and gas sector as the beauty of deregulation.
“It is not surprising because Dangote petrol is selling at that rate.
“This is what we have been telling the government to deregulate the sector.
“The price will start coming down. Investors have started coming.
“The reduction in petrol price means joy to Nigerians and marketers,” he noted.
DAILY POST recalls that the price war between NNPCL and Dangote Refinery started on September 15, 2024, when the latter kicked off the PMS rollout.
