The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump prices of petrol at its outlets across the country from N945 per litre to N860 per litre.
The change in price comes a few days after Dangote refinery announced the reduction of the ex-depot price of petrol for its partners across the country.
Dangote refinery reduced the gantry price of its petrol from N890 per litre to N825 per litre.
Even though the NNPCL has yet to issue an official statement about the price change, checks at some of its retail outlets confirmed the development.
NNPC had recently revealed that it still buys petrol from the Dangote refinery for its Lagos stations, as it is yet to import any fuel this year.
Meanwhile, the Petroleum Retailers Outlet Owners Association of Nigeria (PETROAN) said the recent petrol price reduction by the Dangote refinery as well as Monday’s cut by NNPC filling stations will help tame inflation.
National President of PETROAN, Dr Billy Gillis-Harry, commended the NNPC for reducing its petrol price, describing the price cuts as a bold move.
PETROAN said the move is expected to alleviate the financial burden on Nigerians amid rising inflation and praised NNPC for taking proactive steps to support the Nigerian people.
He said the reduction in petrol price is expected to positively impact Nigerians in terms of decreased transportation costs, making it easier for people to commute and transport goods.
Also, the PETROAN boss applauded Dangote refinery for agreeing to refund N65 to retail outlet owners affected by the price reduction.
