Nigerians Praise Dangote Refinery Over New Petrol Price
The Dangote Petroleum Refinery in Nigeria has reduced its ex-depot petrol prices, leading to lower pump prices at various retail outlets. While residents welcome the move, many express concern that the reduction has not yet significantly lowered the cost of transportation and daily goods.
Why it matters
Fuel pricing is a critical economic driver in Nigeria, directly impacting inflation and the cost of living for millions of citizens.
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Residents of the Federal Capital Territory (FCT) have praised Dangote Petroleum Refinery's decision to cut its ex-depot price for Premium Motor Spirit (PMS), though many say the reduction has yet to ease the cost of transportation, food, and other daily essentials.
The refinery lowered its ex-depot petrol price from N1,330 per litre to betwee n N1,265 and N1,300 per litre , reversing gains recorded over the previous two weeks when global crude oil prices were volatile.
NNPC cuts petrol price after MRS as Dangote undercuts private depots nationwide
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