NNPC, Dangote Slash Petrol Prices as Market Moves Toward Stability
The Nigerian National Petroleum Company (NNPC) has reduced petrol pump prices by N10 in Lagos and Abuja, in a move aimed at easing costs for consumers and stabilizing the fuel market.
Under the new pricing, petrol now sells at N865 per litre in Lagos and N890 per litre in Abuja, down from the previous N875 and N900, respectively.
The adjustment comes after a series of price fluctuations in recent months and reflects NNPC’s commitment to moderating fuel costs across the country.
In a parallel move, Dangote Petroleum Refinery has slashed its own petrol price to N820 per litre and commenced the deployment of Compressed Natural Gas (CNG)-powered trucks for fuel distribution, a development seen as both cost-efficient and environmentally friendly.
Industry analysts say these price adjustments could help ease inflationary pressures and improve public confidence in the downstream oil sector. However, they note that broader market stability will depend on consistent supply and further adoption of alternative energy solutions.
The latest reductions mark a significant step in Nigeria’s fuel market, where government-owned and private operators are aligning efforts to provide relief to consumers amid ongoing economic challenges.
