See more again, NNPC reduces petrol prices, filling stations to adjust pumps

• The NNPC Limited has erstwhile again reduced the pump terms for Premium Motor Spirit (PMS) for Nigerians
• The caller terms comes days aft Dangote refinery slashed petrol terms for its partners beneath N900 per litre
• The caller prices by NNPC erstwhile again amusement the value of terms contention and payment to Nigerians

Legit.ng writer Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

The Nigerian National Petroleum Company Limited (NNPCL) has slashed its petrol pump terms to N880 per litre connected Monday, April 21 for its Lagos retail stations.

This caller terms represents a N30 simplification from the erstwhile pump terms of N910 per litre.

NNPC filling stations set petrol pumps beneath N900 Photo credit: nnpclimited
Source: Getty Images

While successful Abuja the pump terms for petrol has reduced to N935 per litre from the erstwhile terms of N950 per litre .

Kunle, a filling presumption attendant successful Lagos who confirmed the caller terms to Legit.ng, said:

"We present merchantability petrol astatine N880, the acquisition was fixed connected Monday afternoon."

The Cable reports that successful Abuja, astatine the Airport Road, Lugbe, and the Federal Housing, Kubwa, the terms of the merchandise dropped to N935 per litre.

This is the 2nd accommodation successful a week and comes days aft the Dangote refinery announced a caller ex-depot terms and besides for its partners' filling stations.

Like NNPC, different substance stations slash prices

Earlier, Legit.ng reported that Ardova, Mobil, Petrocam, Hyden, Technooiland Matrix person announced reductions successful pump prices.

Dangote besides instructed its partners to merchantability astatine the pursuing prices:

• Lagos: N890 per litre
• South-West: N900 per litre
• North-West and North-Central: N910 per litre
• South-East, South-South and North-East: N920 per litre

Dangote, NNPC terms warfare resumes to payment Nigerians

The caller terms simplification resumes the ongoing terms warfare betwixt the NNPC, Dangote Refinery, signifying a pivotal displacement successful the nation's downstream lipid sector.

The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, believes that the terms warfare betwixt Dangote Refinery and NNPCL volition payment the user more.

He said:

"In a terms war, cipher wins; the consumers triumph successful the abbreviated run, and past eventually, the marketplace goes backmost to wherever it should be. But, astatine the extremity of the day, betwixt present and June, the terms enactment volition beryllium firmly established."

He besides maintained that Dangote Refinery’s simplification successful the pump terms of petrol is owed to accumulation outgo efficiency, among different factors.

Dangote/NNPC indispensable halt abrupt substance terms reduction

Ealier, Legit.ng reported that Oil marketers nether the aegis of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) person condemned the persistent fluctuations successful petrol prices by the Dangote Refinery and the NNPC, informing that the instability is causing monolithic losses and discouraging concern successful the sector.

PETROAN has truthful called for a regulatory model that mandates terms stableness for astatine slightest six months.

Speaking connected the changes, PETROAN Publicity Secretary Joseph Obele, successful a statement, said that the changes person created uncertainty among investors, who are wary of unpredictable marketplace conditions.

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Source: Legit.ng