NNPCL reduces petroleum price to N925/L in Lagos, N965/L in Abuja

…MRS Slashes Petrol Price To N935/L Nationwide

The Nigerian National Petroleum Company Limited (NN¬PCL) has cut the retail price of petrol at its retail outlets to N925 per litre in Lagos and N965 per litre in Abuja.

It dropped the price of PMS from N1,025 per litre in Lagos and N1,040 per litre in Abuja.

At one of its stations in Okota at Ago Palace Way, Lagos, petrol price dropped to N925 per litre. Also at the NNPC outlet at Apple Junction at Amuwo Odofin, Lagos, it reduced its petrol price to N925.

Similarly, in the Federal Capital Territory (FCT), NNPCL reduced the retail price of Premium Motor Spirit, popularly known as petrol, to N965 per litre.

At NNPC’s mega station along Wuse Zone 4 and Olusegun Obasanjo Way, Central Area, the price of petrol was displayed prominently at N965 per litre, attracting a long queue of eager customers.

Motorists scrambled to fill up their tanks, taking advantage of the reduced price.

One driver, who purchased petrol at the new price, applauded the NNPC for the move.

“Yes, NNPC has reduced its price to N965. I bought it this morning, but the queue is too long. Maybe because other sta¬tions are selling at a different price,” he said.

NNPC also slashed the petrol price to N965 at its Lugbe outlet.

Meanwhile, MRS Oil Nigeria Plc, a prominent player in the Ni¬gerian downstream oil industry, has implemented a new petrol price of N935 per litre across all its retail service stations nationwide.

This follows an announce¬ment by the President of Dangote Industries Limited, Aliko Dangote, that the Dangote Petroleum Refinery has partnered with MRS Oil and Gas to offer petrol at N935 per litre at retail outlets, following a reduction in the ex-depot price from N970 to N899.50 per litre.

In response, MRS Oil Nigeria Plc has instructed all its outlets to implement the new price immediately, setting up a digital platform and monitoring team to ensure full compliance. The company has also called on Nigerians to report any outlets that fail to ad¬here to the new price structure.

“Petrol is now being sold at N935 at MRS Filling Stations nationwide. If you find any station not following this price, please report it. Call 08009447853 or email: NG-FMKPMGWHISTLEBLOW¬ING@NG.KPMG.COM,” the company stated in a statement.

Emphasising the eco-friendly nature of its products, MRS Oil added, “We call on all petrol station owners to join MRS Oil Nigeria Plc in improving the supply chain of our beloved country, ensuring product quality and availability in every corner of Nigeria for the benefit of all Nigerians.”

Checks by our correspondents on Monday confirmed that the new price had been implemented at all MRS Oil and Gas retail outlets nationwide.

In Lagos, commuters were seen queuing at MRS filling stations to purchase petrol. Many expressed their gratitude to Dangote Petroleum Refinery and MRS Oil and Gas, urging other marketers to support the indige¬nous refinery rather than import off-spec products into the country.

Mrs. Ibukun Phillips, a com¬muter at the MRS station at Alapere on the Lagos Ibadan Expressway, could not hide her joy as her husband filled up the fuel tank of their car.

“I am very happy today. This is a victory for Nigeria,” she said. “The price reduction is the best gift of the season. But beyond just the reduction, we are buying standard, eco-friendly petrol at a lower rate. My husband and I have decided we will only be using MRS from now on because we are confident in the quality of the product and supporting the economy.”

Commercial bus driver, Adio Ajibade, described the price reduction as a great relief, especially during the festive season.

“The reduction is a great relief. It will reduce transportation costs and benefit Nigerians. God will continue to bless Alhaji Aliko Dangote,” he said.

A public affairs analyst and university lecturer, Dr. Tunde Akanni, said the collaboration between Dangote Petroleum Refinery and MRS Oil represents a significant step towards improving the affordability, quality, and sustainability of petroleum products in Nigeria.

According to Dr. Akanni, “This move will not only help ease the financial burden on Nigerians but also promote a more environmentally conscious approach to fuel consumption, benefitting both the economy and public health in the long term.”

Credit: Daily Independent