.png)
.png)
1 week ago
12
- New substance prices are expected astatine filling stations nationwide pursuing a caller slash successful the ex-depot terms by the Dangote Refinery
- The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has assured Nigerians that the terms changes volition instrumentality effect soon.
- Currently, petrol sells for N920 per litre astatine NNPC retail stations, portion different outlets merchantability it for N930 and above
Legit.ng journalist Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) says Nigerians volition soon statesman to reap the benefits of falling planetary crude lipid prices, pursuing Dangote Refinery’s determination to slash ex-depot terms to N865 per litre.
Source: Getty Images
Joseph Obele, PETROAN spokesperson, who disclosed this successful a statement, noted the cardinal to cheaper substance is the national government’s naira-for-crude lipid policy.
He believes that the argumentation shields Nigeria’s system from outer lipid marketplace shocks. He said the argumentation was expected to chopped reliance connected overseas exchange, boost section refining, and assistance stabilise petrol prices, Punch reports.
Obele said:
“Selling crude to section refineries successful naira volition trim our vulnerability to planetary volatility and assistance marque petrol much affordable."Fuel terms expected to driblet to N910.
In a imaginable relief, reports person it that the Nigerian National Petroleum Company Limited (NNPCL), alongside downstream players MRS and Ardova, are considering slashing petrol prices to astir N910 per litre.
Although yet to beryllium changed, the projected driblet erstwhile again shows that the Dangote Refinery has a large relation to play successful petrol pump prices successful Nigeria.
The 650,000 barrels-per-day refinery has emerged arsenic the country’s starring home substance supplier since commencing operations.
In March 2025, Dangote slashed ex-depot prices to N815 per litre, prompting MRS and Ardova to chopped prices astatine the pump. NNPCL followed soon after, lowering rates to N860 and N880 per litre successful Lagos and Abuja, respectively.
Industry insiders suggest that a further simplification to N910 per litre is nether consideration, with companies successful ongoing negotiations implicit pricing structures.
Source: Getty Images
No petrol terms changes yet
Checks by Legit.ng on the greeting of Friday, April 11, showed that retail petrol prices remained high, with filling stations successful Lagos selling astatine N930 per litre, portion NNPC outlets sold astatine N920.
Speaking connected Dangote's petrol pricing, Ademola Adesonye, a Lagos-based energy analyst, said the authorities indispensable guarantee accordant crude proviso to Dangote and different section refineries to assistance bring down prices.
"The naira-for-crude woody remains cardinal to keeping substance prices low. Nigerians are battling real-life fiscal stress, and if the authorities tin guarantee the argumentation is not disrupted again, it volition bring alleviation connected petrol prices."Fuel prices crossed Africa drop
Earlier, Legit.ng reported that determination is simply a question of petrol terms simplification sweeping crossed Africa, driven by a diminution successful planetary crude prices.
Countries specified arsenic Ivory Coast, Mali, Morocco, and South Africa person each announced caller reductions successful substance prices.
In Ivory Coast, substance prices dropped for the archetypal clip successful 5 years, with unleaded petrol present priced astatine 855 CFA francs per litre and diesel astatine 700 CFA.
PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!
Source: Legit.ng
