The Digest:
The Nigerian National Petroleum Company (NNPC) has reduced petrol prices by N10 in Lagos and Abuja. Prices are now N865 per litre in Lagos and N890 per litre in Abuja, down from N875 and N900 respectively. This follows previous price fluctuations and aligns with NNPC's aim to stabilize fuel costs. Additionally, Dangote Petroleum Refinery reduced its price to N820 per litre and has begun deploying CNG-powered trucks for fuel distribution.
Key Points:
- NNPC reduces petrol prices by N10 in Lagos and Abuja.
- New price: N865 per litre in Lagos, N890 per litre in Abuja.
- Previous prices were N875 in Lagos and N900 in Abuja.
- The reduction follows earlier price increases.
- Dangote Refinery also reduced the petrol price to N820 per litre.
- Dangote’s refinery introduces CNG-powered trucks for fuel distribution.
- Price cuts aim to stabilize fuel costs amid fluctuations.
The NNPC’s price reduction signals a move toward price stabilization in Nigeria's fuel market, amid ongoing efforts by various companies to reduce fuel costs.
Sources: TheCable, NNPC Official Statements
