The Nigerian National Petroleum Company Limited (NNPCL) have adjusted their petrol prices across its retail outlets.
The company have reduced the pump price to N860 per litre from the previous N945 per litre.
While no official announcement has been made by the company, reports indicate that several NNPCL retail outlets, particularly in Lagos, have already implemented the new price. As usual, the national oil company is expected to set different prices for different regions.
This price cut follows closely after Dangote Refinery announced a reduction in its ex-depot petrol price, bringing it down from N890 to N825 per litre just a few days ago.
The development has been confirmed by the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola.
“It is true, NNPC is selling petrol at N860 in the filling stations. Though this has not been reflected on the portal, they told me they are working on updating the portal,” he said.
Similarly, Billy Gillis-Harry, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), also confirmed the development.
