The Nigerian National Petroleum Company Limited (NNPCL) has finally adjusted its pump price following the reduction in the ex-depot price of premium motor spirit (PMS) popularly known as petroleum.
The NNPCL retail stations now sell at N925 per litre in Lagos as findings by Daily Trust indicated. It is N10 cheaper than the N935 being sold by MRS Filling stations following the partnership of MRS Oil and Gas with Dangote Refinery.
MRS filling stations initially sold the product at N939.5 per litre in some parts of Lagos and further reduced the price to N935 per litre nationwide as announced by Dangote Refinery over the weekend.
The Independent Petroleum Marketers’ Association of Nigeria (IPMAN) had said the price of petrol would drop to N935 per litre by Monday in view of Dangote Refinery’s new arrangement.
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IPMAN said the new price was necessitated by the reduction in Dangote Refinery’s fuel ex-depot price and uniform arrangement, which would enable marketers to sell at N935 in their outlets nationwide.
However, checks by Daily Trust yesterday indicated that some filling stations are still selling above N1000 per litre.
Based on the random checks by our correspondent yesterday, NNPC sells at N925; MRS sells at N935; Bovas N985; AP N985; Mobil 1,015; Conoil sells 1,065.
Meanwhile, MRS has implemented a new petrol price of N935 per litre across all its retail service stations nationwide.
This follows an announcement 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 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 outlet that fails to adhere to the new price structure.
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.”
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 indigenous refinery rather than import off-spec products into the country.
Mrs. Ibukun Phillips, a commuter at the MRS station at Alapere on the Lagos Ibadan Expressway, could not hide her joy as her husband filled up their car.
Commercial bus driver Adio Ajibade described the price reduction as a great relief, especially during the festive season.
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 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.”
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