Once the leader in Nigeria’s downstream petroleum market, the Nigerian National Petroleum Company Limited now faces growing challenges in competing on fuel pricing, especially since the Dangote Refinery commenced operations.
This week, a litre of petrol at NNPC retail outlets in Lagos sold for N785, making it N46 more expensive than prices at MRS filling stations, a key partner of the Dangote Refinery.
The NNPC limited petrol became more expensive than Dangote Refinery partners’ prices, which implemented a retail price of N739.
Motorists increasingly chose to buy petrol from filling stations offering cheaper rates, bypassing NNPC outlets.
The price gap showed the pricing competition currently going on since the deregulation of the petroleum market.