On February 1, 2025, Dangote Petroleum Refinery reduced the ex-depot price of petrol from N950 to N890 per litre. This move aims to ease the financial burden on Nigerians struggling with high fuel costs. The price reduction follows a drop in global crude oil prices, allowing Dangote Refinery to adjust its prices. By lowering the prices, Dangote hopes to remain competitive, especially after the Nigerian National Petroleum Corporation Limited (NNPCL) raised fuel prices earlier.

Marketers are now anticipating that NNPCL will follow Dangote’s lead and cut its own fuel prices. They believe the state-run corporation must reduce its prices to stay competitive in the market. However, NNPCL has not yet made any announcements regarding price changes.

Some marketers are worried about potential losses due to the price reduction. Those who imported fuel at higher prices are concerned that the lower retail price will hurt their sales. Nonetheless, many consumers are hopeful that this price cut will lead to lower transportation and food costs.

In conclusion, Dangote’s price reduction could offer much-needed relief to Nigerians. It is possible that NNPCL will follow the trend, which could further impact fuel prices nationwide. The full effects of this decision will become clearer over time, as marketers and consumers adjust to the new price structure.

Read More New On: AU TV