The Nigerian National Petroleum Company (NNPCL) and Dangote Refinery have reduced the price of Petroleum Motor Spirit popularly known as petrol to below N900 per litre. NNPCL set its depot price at N899 while Dangote Refinery now sells at N899.50. The price reduction is attributed to declining global oil prices and a stable Naira. Additionally, regional pricing strategies have been implemented in states like Anambra and the South-South regions to help reduce transportation costs and improve the cost of living.
In an exclusive interviewwith News Central TV on Breakfast Central, Billy Gillis-Harry, President of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), explained that “On the 29th of November, PETROAN had the energy, security strategy forum. Some of the fallout was the projection that the possibility of prices coming down. The more the availability of petrol then price competition was inevitable. They anticipated the drop in prices while they built a good …