Petrol Price Reduction: Nigerians to Enjoy Lower Rates Within the Week

In a welcome development, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has announced that the recent reduction in petrol prices will reflect at the pumps within the week.

Following the reduction of the ex-depot price of petrol to ₦899 per litre by the Nigerian National Petroleum Company (NNPC) Limited and the Dangote Refinery, PETROAN has assured Nigerians that the new prices will be implemented at retail outlets nationwide.

According to Billy Gilly-Harry, President of PETROAN, “Members will start loading petrol at the new reduced price, and it will reflect in the market.” He commended some PETROAN members who had already reduced their prices to below ₦1,000 in Abuja, even before the official announcement.

Gilly-Harry emphasized that PETROAN’s focus is to serve Nigerians while ensuring that members make marginal profits to sustain their businesses. With the price reduction, Nigerians can expect to pay lower rates for petrol within the week.

This development is a positive step towards making life more affordable for Nigerians, especially during the festive season. As the country continues to navigate the challenges of petrol pricing, it’s clear that efforts are being made to ensure that Nigerians benefit from reduced prices.