Dangote Cuts Petrol Price to ₦1,215 as NNPCL, MRS Plan Reductions

Nigerian motorists may soon experience some relief at filling stations following a fresh reduction in the petrol price announced by the Dangote Petroleum Refinery.

The refinery has reduced its petrol gantry price to ₦1,215 per litre, a development that could influence prices across Nigeria’s downstream petroleum market.

According to a report by Daily Post, managers at Nigerian National Petroleum Company Limited (NNPCL) and MRS filling stations have indicated that they expect to reduce their pump prices in the coming days.

An NNPCL filling station manager in Abuja told the newspaper that the outlet expected its petrol price to drop during the week following the refinery’s latest adjustment.

An MRS station manager also confirmed the possibility of a reduction.

The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, similarly stated that marketers would begin adjusting their prices once they received supplies from Dangote Refinery at the new rate.

The development comes amid changing international crude oil prices. The report indicated that West Texas Intermediate crude fell by approximately three per cent to $99 per barrel, while Brent crude dropped by four per cent to $104 per barrel.

Before the expected adjustments, petrol was selling between ₦1,370 and ₦1,429 per litre at filling stations in Abuja and surrounding areas.

However, the actual reduction customers will receive will depend on when individual stations obtain new supplies and adjust their retail prices.

For motorists, transport operators and small businesses, any reduction in petrol prices could help ease some operating expenses.

Nigerians will therefore be watching filling stations closely as the new pricing adjustment takes effect.

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