Nigerians are expected to see a slight decrease in petrol prices due to a recent drop in the landing cost of petroleum products.
AFRIPOST gathered that data obtained from key suppliers, including the Nigerian National Petroleum Company Limited (NNPCL), revealed that the landing cost of petrol has fallen to ₦935.94 per litre, down from ₦977.
As a result, fuel stations nationwide are likely to lower their pump prices.
Figures from the Major Energy Marketers Association of Nigeria (MEMAN) also show a drop in diesel landing cost to ₦1,071.8 per litre, calculated using an exchange rate of ₦1,659.37 per dollar.
MEMAN’s latest report lists the ex-depot prices in Lagos at ₦1,029 per litre for petrol, ₦1,120 per litre for diesel, ₦1,040 for aviation fuel, and ₦1,125 for LPG. Compressed Natural Gas (CNG) is priced between ₦230 and ₦450 per scm.
This decrease in costs is attributed to recent stability in the exchange rate.
In related news, NNPCL has committed to helping restore Nigerian football’s appeal and rekindle its joy among citizens.
Group Chief Executive Officer Mele Kyari made this commitment while meeting with representatives from the National Sports Commission, the International Management Group (IMG), and AfroSport Network at NNPC Towers.
Kyari, speaking to the delegation led by National Sports Commission Chairman and Sports Minister Alhaji Shehu Dikko, expressed NNPCL’s readiness to support efforts to revitalize football in Nigeria.
He assured that NNPCL would collaborate with sports sector stakeholders to grow and commercialize the sport in the country.