NNPC, Dangote’s New Fuel Prices Place Nigeria Among Countries With Cheapest Petrol Prices
- Nigeria has retained its position among countries with the cheapest petrol prices on the African continent
- Nigeria's position was further established with the recent announcement by Dangote refinery and NNPC
- Ex-depot and retail prices have dropped, with Dangote refinery and NNPC offering rates below N900
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends
Nigeria has emerged among African countries with the lowest petrol prices new data from according to data published by global petrol prices.
Global price reports that as of Monday, April 21, Nigeria's petrol price is the 12th cheapest in the world and 5th in Africa.
Source: Getty Images
At the start of the year, Nigeria was ranked as the 27th cheapest country for petrol in the world. Recent price changes have seen Nigeria climb above 15 countries.
Changes in petrol prices in Nigeria
The data also revealed that globally, the average fuel price is currently $1.27 per litre, which is about N2,047.
In Nigeria, filling stations are selling fuel at prices ranging from N860 to N950, following changes in petrol prices by the Dangote Refinery and the Nigerian National Petroleum Company (NNPC) Limited.
Legit.ng reported that Dangote Petroleum Refinery reduced the official petrol prices for all its partner filling stations across the country.
The partners are Ardova Plc, MRS Oil Nigeria Plc, Technooil, Optima Energy, Hyde, and Heyden.
According to Dangote Refinery, the prices for its partner filling stations will be as follows:
- Lagos: N890 per litre
- South-West: N900 per litre
- North-West and North-Central: N910 per litre
- South-East, South-South and North-East: N920 per litre
Similarly, NNPC slashed its petrol pump price to N880 per litre on Monday, April 21, for its Lagos retail stations.
This new price represents a N30 reduction from the previous pump price of N910 per litre, and now means that NNPC sells petrol cheaper than Dangote's partners in Lagos.
While in Abuja, the pump price for petrol has reduced to N935 per litre from the previous price of N950 per litre.
Ranking of the 10 cheapest petrol prices in Africa
| Country | Petrol price in $ | Petrol price in N |
| Libya | $0.028 | N44.80 |
| Angola | $0.327 | N523.20 |
| Algeria | $0.348 | N556.80 |
| Egypt | $0.372 | N595.20 |
| Nigeria | $0.538 | N880.80 |
| Sudan | $0.700 | N1,120.00 |
| Tunisia | $0.848 | N1,356.80 |
| Ethiopia | $0.854 | N1,366.40 |
| Liberia | $0.871 | N1,393.60 |
| Ghana | $1.033 | N1,652.80 |
Bellazir Energy to sell fuel
Ealier, Legit.ng reported that Bellazir Energy Ltd, an energy company, has announced its entry into Nigeria’s downstream petroleum sector.
The company, in a statement made available to journalists, said it aims to revolutionise fuel supply and distribution across the country. the
The company’s official unveiling, scheduled at the prestigious Radisson Blu Hotel, Victoria Island, Lagos, is expected to bring together industry leaders, key stakeholders, and government representatives.
PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!
Source: Legit.ng
