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7 hours ago
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- The NNPC Limited has reduced the pump terms for Premium Motor Spirit (PMS) for residents successful Abuja
- The caller terms comes days aft Dangote refinery slashed its gantry terms of petrol for marketers by 10
- There is ongoing terms contention successful the home marketplace for petroleum products among antithetic players
Legit.ng writer Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.
The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump terms of Premium Motor Spirit (PMS), commonly known arsenic petrol to N910 per litre successful Abuja.
The latest alteration is simply a driblet from N935 pump price, and present means that NNPC present sells astatine the aforesaid complaint arsenic Dangote's partners' filling stations successful Abuja.
Source: Getty Images
Vanguard reports that the terms accommodation has not yet been implemented successful Lagos and different cities crossed Nigeria.
Dangote's partners, Ardova, Mobil, Petrocam, Hyden, Technooiland Matrix person been asked to trim prices.
Dangote 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 slashes prices
Earlier, Legit.ng reported that Dangote Petroleum Refinery has begun issuing a N10 per litre rebate to lipid marketers who bargain astatine slightest 2 cardinal litres of its petrol from its facility.
The determination efficaciously reduces the ex-depot terms from N835 to N825 per litre.
While the refinery’s publically announced ex-depot terms remains astatine N835 per litre, Punch reports that the refund efficaciously brings the outgo down to N825.
A root acquainted with the statement told reporters:
“Marketers are receiving a rebate aft purchase, which allows them to stay competitory connected pricing astatine their retail outlets.”The discount has enabled downstream marketers buying from the refinery to retail petrol wrong a little terms set of N827 to N830 per litre.
Source: Getty Images
According to Petroleumprice.ng:
“With power implicit much than 50% of Nigeria’s substance market, Dangote precocious dropped its petrol terms to N825 per litre. While the refinery hasn’t officially announced this, sources accidental it offers flexible deals to its bulk marketers, who present resell astatine N830 oregon somewhat lower.“This attack helps Dangote enactment up of depot owners facing higher overheads.“Dangote’s exemplary has closed the terms spread by N10 to N15, applying important unit connected competitors.“Nigeria’s substance marketplace is undergoing a transformation. Crude prices play a minimal role, portion section strategies present dominate.“Dangote’s increasing marketplace stock stems from assertive pricing and operational efficiency.“Although consumers payment successful the abbreviated term, semipermanent effects whitethorn change the country’s substance proviso landscape. As the terms warfare continues, Dangote’s power volition apt expand, further straining smaller players.”4 casual steps to bargain Dangote petrol
Earlier, Legit.ng reported that Recently, the Dangote radical announced 4 casual steps to go a petrol distributor successful Nigeria.
The lawsuit sends an email to: [email protected]. In response, the lawsuit receives registration guidelines, a link, and owed diligence forms to complete.
Successful applicants volition beryllium issued a Dangote Refinery registration PIN and notified to implicit a notarised Non-Disclosure Agreement (NDA) form. Additionally, the lawsuit volition person a distributorship assignment missive confirming their registration.
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Source: Legit.ng
