By Pathfinder Reporter
Monday May 12, 2025
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The full implementation of the Naira-for-Crude agreement with local refiners as ordered by the Federal Government has led to a continuous reduction in petrol pump prices in the petroleum market.
The Dangote Petroleum Refinery has again slashed the gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, to N825 per liter from N835 per liter barely two weeks after the company reduced its pump price to N880.
The Naira-for-Crude agreement with local refiners operated for six months and was suspended by the NNPCL under the former Group Chief Executive Officer (GCEO), Mele Kyari.
Consequently, the pump price of petro skyrocketed, bringing hardship to Nigerians.
When the FG changed the leadership at the NNPCL, it mandated the new leadership headed by Bayo Ojulari to immediately implement fully the Naira-for-Crude agreement.
While the latest reduction is aimed at consolidating the Refinery’s leadership position in the domestic market, it is also to give customers value for their money.
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