Dangote’s petrol still leads by N15, N30 less, as NNPCL outlets slash petrol price to N950, N965 in Ibadan, Abuja
By BASHIR ADEFAKA
One of them said, “This is necessary because the main reason subsidy was removed from fuel was corruption. Now, you know the refiner, Dangote. Pay subsidy directly to him to order at price that will make Nigerians but at N200. We don’t want economic theory that forces fuel price hike on a people that God has blessed with their oil.”
After Dangote’s announcement of a signed partnership with MRS to sell its Premium Motor Spirit (PMS) also known as petrol to Nigerians at N935, the Nigerian National Petroleum Company Limited reduced the price of his own product to N950 and N965 per litre, still N15 and N30, respectively, higher than the privately refined fuel.
The DEFENDER reports that oil marketers buying from NNPCL or imported sources have continued to stick to old prices of between N1,035 and N1,050 even in outlets with franchise of NNPCL in major cities of the country.
Report reaching us from Ibadan, Oyo State capital, however, updated that some NNPCL retail outlets had reduced their prices downward to N950 even as the government-owned nation’s oil company, on Monday December 23, 2024 reduced petrol price at its retail outlets in Abuja to N965 per litre in Abuja.
The development follows the recent announcement that the nation’s oil company has reduced its ex-depot price of petroleum products to N899 per litre.
This came days after the 650,000 barrels per day Dangote Refinery announced a reduction in its petrol price for oil marketers and a went on to announce the partnership with MRS to sell the products at N935 per litre to Nigerians across the latter’s outlets in the country.
Meanwhile, the Independent Petroleum Marketers Association of Nigeria (IPMAN), had earlier disclosed readiness to begin sales of petrol at (the Dangote’s price of) N935 per litre from Monday (December 23).
Earlier on Monday, The DEFENDER ad reported projections by some industry sources that said Dangote was fully prepared, with strength and capacity, take the NNPCL and other oil marketers through a longer marathon in the price war as it eyes further reduction of its fuel price from N899.50 to N650 per litre after its recent reduction forced the NNPCL to unexpectedly slash it’s to N899.
Nigerians, who spoke to our reporter on the development, lauded former President Muhammadu Buhari for bringing about Dangote Petroleum Refinery while telling President Bola Tinubu, who is Minister of Petroleum, that this is the time to decide at what stage of the pricing subsidy should be restored to crash fuel to as low as N200.
One of them said, “This is necessary because the main reason subsidy was removed from fuel was corruption. Now, you know the refiner, Dangote. Pay subsidy directly to him to order at price that will make Nigerians but at N200. We don’t want economic theory that forces fuel price hike on a people that God has blessed with their oil.”
