- Dangote, NNPCL Price War Benefits Nigerians
- Financial expert, Paul Alaje, has predicted that the price of petrol in Nigeria could drop to between N650 and N800 per litre
- Requests For More Refineries
A financial expert, Paul Alaje, has predicted that the price of petrol in Nigeria could drop to between N650 and N800 per litre if the competition between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) continues.
Speaking on Channels Television, Alaje explained that the recent petrol price reductions by both companies have triggered a price war. He warned that if either Dangote Refinery or NNPCL stops operating, fuel prices could rise above N1,000 per litre.
- EDITOR”s PiCK
- Salah, Mbappe, and Yamal: The Fierce Battle for 2025 Ballon d’Or
- Turkey-bound businessman excretes 120 wraps of cocaine at Kano airport
- Rep. Wale Raji Welcomes Muslim Constituents to Ramadan, Calls for Prayers for Leaders
He emphasized the need for more refineries in Nigeria to encourage competition and prevent any one company from controlling prices. According to him, Nigerians benefit from the ongoing competition, as it prevents price-fixing and keeps fuel costs lower.
Alaje stated that deregulation is working in favor of consumers, and more competition would lead to further price reductions. However, if one of the major players exits the market, fuel prices could increase again.
- FURTHER READING
- Tinubu: El-Rufai Is Pained And Frustrated – Shehu Sani
- Cable Vandal Electrocuted, Caught With Three Others in Ilara, Epe
- FG Appoints New VC for Admiralty University
The latest petrol price cuts by both NNPCL and Dangote Refinery have intensified competition in Nigeria’s fuel market.
Click Here For Video of The Week
