Dangote Refinery–Marketers Price War Will Benefit Nigerians, Says NNPCL Boss

The ongoing price war among refiners and fuel marketers will ultimately benefit Nigerian consumers, the Group Chief Executive Officer of NNPC Limited, Bayo Ojulari, has said.

Ojulari made the assertion while speaking to journalists in Lagos after briefing President Bola Tinubu on Sunday, noting that the recent sharp drop in petrol prices reflects healthy market competition.

He described the situation as a temporary tension resulting from Nigeria’s transition from reliance on imported fuel to increased domestic refining capacity.

“Where there is healthy competition, the buyers are the ultimate beneficiaries. The market will stabilise,” Ojulari said.

Petrol prices, which sold for over ₦1,200 per litre in late 2024, have dropped to as low as ₦739 per litre at some outlets in December 2025. The decline followed aggressive price reductions by the Dangote Refinery, NNPCL retail outlets and independent marketers.

Ojulari further explained that the Petroleum Industry Act (PIA) has ended NNPCL’s role as a price regulator, repositioning the company as a fully commercial entity operating within a deregulated market framework.