New Petrol Prices: NNPC, Dangote Slash Pump Rates, But South-East and North Still Pay More

NNPC and Dangote Refinery have recently slashed petrol pump prices in Nigeria, with Dangote selling at N865 per litre compared to the previous N950. Various filling stations in Ogun state have also reduced prices to around N900 to compete with Dangote.

NNPC retail stations in Lagos and Ogun are selling petrol at N865 and N870 per litre, respectively. Dangote's partners are selling petrol at varying prices, with Heyden at N980 and others between N875 and N895.

Despite the price cuts, the South-East and North regions still pay higher rates due to logistical challenges. Dangote Refinery's price slash to N820 per litre is seen as a significant move in the market, forcing other marketers to follow suit.

The entry of Dangote into the downstream petroleum sector has impacted NNPC's pricing structure and import role. Nigerians are calling on the government to revert to lower petrol prices, citing the benefits of the recent cuts.