Petroleum marketers tell Nigerians to expect more fuel price reduction amid NNPC, Dangote rivalry
By John Egbokhan
Nigerians have been told by petroleum retailers and marketers to expect more reduction in the price of premium motor spirit as the Nigerian National Petroleum Company Limited and Dangote Refinery commenced a fresh price war consequent upon price drops by both corporations
This comes after NNPC on Monday announced its new petrol prices of N860 and N880 per litre, respectively, in Lagos, the Federal Capital Territory, Abuja, and across the country, respectively.
Recall that some days ago, Dangote Refinery dropped its petrol price to N880 per litre in its partners’ fuel outlet, MRS filling station, and other filling stations in Abuja.
The development has sparked a fresh petrol price war between NNPCL and Dangote Refinery.
The situation means Nigerians would now choose to buy petrol between NNPCL and Dangote retail outlets amid their price war.
In his reaction, National President of Petroleum Retailers Outlets Owners Association and his counterpart of the Independent Petroleum Marketers Association of Nigeria, Billy Gillis-Harry and Abubakar Maigadi, respectively, stated that Nigerians should expect more petrol price drops amid the competition between NNPCL and Dangote refinery.
According to Gillis-Harry, Nigerians are in an advantageous position in what he described as a necessary business matrix between NNPCL and Dangote Refinery.
“The new price has been reflected on our portal.
“This price reduction will be a huge relief to many Nigerians struggling to make ends meet.
“The reduction in PMS prices is expected to positively impact Nigerians’ lives.
"We are engaging NNPCL to also bring down the petrol prices for the benefit of Nigerians and marketers,” he saidm
Also speaking, Maigandi said what is happening in the downstream oil and gas sector is the beauty of deregulation.
According to him, “It is not surprising because Dangote petrol is selling at that rate.
“This is what we have been telling the government to deregulate the sector. The price will start coming down. Investors have started coming.
“The reduction in petrol price means joy to Nigerians and marketers,” he said
