This price reduction follows a decrease in the ex-depot price from ₦970 to ₦899.50 per litre.

Anthony Chiejina, Head of Media Communications of Dangote Refinery, disclosed this in a statement on Saturday in Lagos.

The company said that the new pricing, which had already been implemented in Lagos, would be rolled out nationwide starting from Monday.

It stated that the move followed an earlier reduction on Nov. 24, when the off-depot price of petrol was decreased from ₦990 to ₦970 per litre.

Aliko Dangote, President of Dangote Industries Ltd., commended President Bola Tinubu for the positive impact of the naira-for-crude swap deal on the Nigerian economy.

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) team lead in-charge of distribution systems storage and retailing infrastructure (DSSRI), Joy Koro, disclosed this development recently during a monitoring and surveillance exercise in Uyo, the state capital.

“We shut down 13 filling stations that were selling far above the government regulated pump price,” he said.

Koro, an Engineer, added that three filling stations violated government seal order, adding that the stations would be sanctioned accordingly.

He warned marketers to desist from selling the products above government approved pump price and revert to approved price in the state.

Fuel price is rising astronomically in the state with the commodity being sold between N270 and N350 per litre.

“If you see any marketer selling above the regulated price, definitely that filling station will be shut down. Presently, there is enough petroleum product for marketers to lift to their stations,” he said.

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