See more as NNPC, Dangote’s new fuel prices place Nigeria among world's cheapest

• Nigeria has retained its presumption among countries with the cheapest petrol prices connected the African continent
• Nigeria's presumption was further established with the caller announcement by Dangote refinery and NNPC
• Ex-depot and retail prices person dropped, with Dangote refinery and NNPC offering rates beneath N900

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

Nigeria has emerged among African countries with the lowest petrol prices caller information from according to information published by planetary petrol prices.

Global terms reports that arsenic of Monday, April 21, Nigeria's petrol terms is the 12th cheapest successful the satellite and 5th successful Africa.

Fuel prices successful Nigeria are 1 of the cheapest successful the world Photo credit: Bloomberg/contributor
Source: Getty Images

At the commencement of the year, Nigeria was ranked arsenic the 27th cheapest state for petrol successful the world. Recent terms changes person seen Nigeria ascent supra 15 countries.

Changes successful petrol prices successful Nigeria

The information besides revealed that globally, the mean substance terms is presently $1.27 per litre, which is astir N2,047.

In Nigeria, filling stations are selling substance astatine prices ranging from N860 to N950, pursuing changes successful petrol prices by the Dangote Refinery and the Nigerian National Petroleum Company (NNPC) Limited.

Legit.ng reported that Dangote Petroleum Refinery reduced the authoritative petrol prices for each its spouse filling stations crossed the country.

The partners are Ardova Plc, MRS Oil Nigeria Plc, Technooil, Optima Energy, Hyde, and Heyden.

According to Dangote Refinery, the prices for its partner filling stations volition beryllium arsenic follows:

• 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

Similarly, NNPC slashed its petrol pump price 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, and present means that NNPC sells petrol cheaper than Dangote's partners successful Lagos.

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

Ranking of the 10 cheapest petrol prices successful Africa

Bellazir Energy to merchantability fuel

Ealier, Legit.ng reported that Bellazir Energy Ltd, an vigor company, has announced its introduction into Nigeria’s downstream petroleum sector.

The company, successful a connection made disposable to journalists, said it aims to revolutionise substance proviso and organisation crossed the country. the

The company’s authoritative unveiling, scheduled astatine the prestigious Radisson Blu Hotel, Victoria Island, Lagos, is expected to bring unneurotic manufacture leaders, cardinal stakeholders, and authorities representatives.

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Source: Legit.ng