Petrol Landing Cost in Nigeria Reduces

The cost of landing petrol in Nigeria fell from N981 per litre on September 25 to N945.63 by September 27, attributed to the naira's appreciation from N1,667.22 to N1,586.26 per dollar and a slight decline in crude oil prices from $73.67 to $72.45 per barrel.

Diesel prices also decreased from N1,089 to N1,068.04 per litre, while aviation fuel dropped from N1,117.34 to N1,079.79 per litre.

Despite these changes, the Nigerian National Petroleum Company (NNPC) emphasized that market forces still drive fuel pricing. The NNPC continues to purchase petrol from the Dangote refinery, raising hopes for further price reductions.

Read full article