The Nigerian National Petroleum Company Limited has reduced
its ex-depot prices of Premium Motor Spirit, petrol to N899 from N1020 per
litre for oil marketers.
Petroleum Products Retail Outlets Owners Association of
Nigeria, PETROAN, spokesperson Joseph Obele disclosed this in a statement on
Saturday.
A document released by the NNPC commercial department, shows the latest reduction based on the regional pricing
scheme as follows: Lagos, N899.0; Warri, N970.0; Oghara, N970.0; Port Harcourt,
N970.0 and Calabar, N970.0.
The price reduction by NNPC is in response to the recent
price adjustment announced by Dangote Refinery.
Reacting to the development, PETROAN National President
Billy Gillis Hary said the price reduction will bring relief to motorists and
Nigerians during the holiday season.
“The reduction in PMS price by NNPCL is a demonstration of
the company’s commitment to making petroleum products more affordable for
Nigerians.
“We commend NNPCL for responding to our call for affordable
PMS prices.”
PETROAN had urged NNPCL to slash its ex-depot prices of PMS
as Dangote Refinery did.
Recall that on December 19, 2024, it reduced its ex-depot
price to N899.50 per litre, down from N970.
This means that there is a slight N0.50 margin between NNPC
and Dangote Petrol prices.
Meanwhile, Nigerians currently buy petrol between N1040 per
litre and N1,150 at filling stations nationwide.
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