The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, on Sunday assured Nigerians that ongoing price competition in the downstream petroleum sector will ultimately benefit consumers. Clarifying NNPCL’s role in the deregulated market, Ojulari emphasised that the company is no longer responsible for petroleum product pricing or regulation under the Petroleum Industry Act. The price war intensified dramatically in December 2025 when Dangote slashed its ex-depot price from N970 to N699 per litre, forcing other players to follow suit or risk losing market share. Data from Petroleumprice.ng showed that Dangote Refinery made over 20 price adjustments in 2025 alone. Ojulari also disclosed that NNPCL has successfully completed welding of the main line of the Ajaokuta-Kaduna-Kano gas pipeline, including crossing the River Niger.

Source: Punch December 28, 2025 17:30 UTC