According to Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Nigerians stand to gain the most from the continuous gasoline price reductions brought about by competition in the downstream oil industry.
After briefing President Bola Tinubu in Lagos on Sunday, Ojulari made the comments while addressing reporters.
He explained that Nigeria’s move away from reliance on fuel imports is a natural result of the current volatility in gas prices.
He added that the current volatility will eventually subside and that more competition in the market eventually benefits consumers.
“The purchasers are ultimately the winners when there is strong competition. Additionally, we should remember that the market will stabilize, according to Ojulari. “We are going through a significant transition, so there might be some tension along the way.”
His remarks coincide with the continuing battle over fuel prices, which has led to several price cuts at gas stations around the nation in recent weeks.
Dangote Refinery lowered its gantry pricing to roughly N699 per litre earlier in December 2025. Pump rates in Abuja were subsequently lowered to between N739 and N901 per litre by MRS filling stations, NNPCL stores, and other marketers.
