The Nigerian National Petroleum Company Limited (NNPCL) has adjusted petrol prices at its retail outlets, reducing the pump price from N945 to N860 per litre.
Although the company has not made an official announcement, reports indicate that several NNPCL outlets, especially in Lagos, have already started selling at the new price. As usual, the national oil company is expected to set different prices for different regions.
This price adjustment comes shortly after Dangote Refinery lowered its ex-depot petrol price from N890 to N825 per litre.
Hammed Fashola, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the development.
“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.
Billy Gillis-Harry, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), also confirmed the price reduction.
