A Niger Delta-based group fighting against pipeline vandalism has thrown its weight behind the reforms introduced by the Nigerian National Petroleum Company Limited (NNPCL) to improve the country’s oil and gas sector.
The National Coordinator of the Anti-Pipeline, Oil Theft & Illegal Bunkering Task Force, Pathfinder Fiawei, praised the ongoing changes in a statement on Tuesday. He highlighted the efforts of NNPCL’s Executive Vice President, Downstream, Isiyaku Abdullahi, in driving positive transformation in the sector.
Fuel Prices Dropping Gradually
Fiawei noted that the NNPCL’s policies have increased competition, leading to a slow but steady reduction in fuel prices across the country.
“We have carefully observed and monitored the work of the NNPCL and its leadership in the downstream sector, and we can confidently say their efforts are making a real impact. These reforms have changed the game in Nigeria’s oil and gas sector,” he stated.
This endorsement comes amid debates over why Nigeria still imports petrol, despite the Dangote Refinery’s capability to meet 100% of the country’s fuel demand.
NNPCL Assures Nigerians of Energy Security
At the Nigeria International Energy Summit in Abuja, the Group Chief Executive Officer of NNPCL, Mele Kyari, reassured Nigerians that the state-owned oil company is committed to ensuring stable energy supply. He emphasised that all actions align with the Petroleum Industry Act (PIA), which aims to improve the oil sector’s efficiency.
Current Petrol Prices in Nigeria:
- NNPCL Retail Stations: ₦965 per litre
- Dangote Petrol at MRS Stations: ₦945 per litre
- Other Filling Stations: ₦970–₦1,000 per litre
Despite the ongoing price war between NNPCL and Dangote Refinery, Nigerians are hopeful that fuel prices will continue to drop as competition increases.
With the government pushing for more reforms and private investments in the sector, the coming months will be crucial in shaping Nigeria’s fuel market and ensuring affordability for citizens.