Despite the price reduction, NNPCL’s official spokesperson, Olufemi Soneye, has not responded to calls or messages seeking clarification on the matter.
Lagos, Nigeria – The Nigerian National Petroleum Company Limited (NNPCL) has reportedly reduced the pump price of petrol to N860 per litre at some of its retail outlets.
Findings by PUNCH online on Monday revealed that several NNPCL stations in Lagos had adjusted their pump prices from N945 per litre to the new rate of N860 per litre. However, there has been no official statement from the state-owned oil company regarding the development.
The National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, confirmed the price adjustment, stating that NNPCL had informed him of the reduction, although it was yet to reflect on the company’s official portal.
“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 it,” Fashola said.
Similarly, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, acknowledged the price cut but noted that he was still gathering further details.
The development follows a recent price adjustment by Dangote Refinery, which last Wednesday reduced its ex-depot petrol price from N890 per litre to N825 per litre. This move has triggered new price dynamics in Nigeria’s petroleum market.
Despite the price reduction, NNPCL’s official spokesperson, Olufemi Soneye, has not responded to calls or messages seeking clarification on the matter.
Market watchers are closely monitoring further adjustments as competition among suppliers continues to influence petrol pricing in Nigeria.
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