Nigerian Petrol Prices Slashed by ₦171, Major Oil Companies Adjust Pump Prices

Following a ₦171 drop in petrol prices, various filling stations in Nigeria, including those in Abuja, have started adjusting their pump prices. Companies like Mr.

Oil Nigeria Plc, AA Rano, and Bova Petroleum have reduced their prices per liter. The price cut is a result of competitive pressures in the downstream oil sector, triggered by Aliko Dangote's recent announcement of reducing prices at Dangote Refinery.

However, not all stations have adjusted their prices yet, indicating a mixed response to the market dynamics.