By Abubakar Yunusa
The Dangote Petroleum Refinery has reduced the ex-depot petrol price to N825 per litre.
According to sources on Monday, the refinery reduced the product’s price for oil marketers by N10, from the N835 per litre sold by the facility.
This development marks another step by the refinery in its attempts to stay ahead of its major competitor, Nigerian National Petroleum Company (NNPC) Limited.
On May 8, the NNPC and the Dangote refinery pledged to promote mutually beneficial partnerships and foster healthy competition.
According to a statement by the national oil company, Bayo Ojulari, NNPC’s group chief executive officer (GCEO) and Aliko Dangote, Dangote Group’s president, “committed to enhancing cooperation to support Nigeria’s energy security and promote shared prosperity for its people”.
Speaking during the visit, Dangote said there is no “competition between us, we are not here to compete with NNPC Ltd”.
“NNPC is part and parcel of our business, and we are also part of NNPC. This is an era of co-operation between the two organisations,” Dangote added.
On April 16, Dangote refinery said its key partners reduced the petrol pump price to N890 per litre in Lagos from N920 per litre.
The NNPC also reduced the price of petrol at its filling stations in Lagos and Abuja.
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