Business
NNPCL GCEO Ojulari Reveals Nigerians As Biggest Beneficiaries of Reduced Fuel Price
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has said Nigerians are the biggest beneficiaries of the ongoing fuel price reductions, triggered by competition in the downstream oil sector.
Ojulari made the remarks on Sunday while speaking with journalists after briefing President Bola Tinubu in Lagos.
He described the current fluctuations in petrol prices as a natural outcome of Nigeria’s transition away from dependence on fuel imports.
According to him, increased competition in the market ultimately favors consumers, adding that the present volatility will ease over time.
“Where there is healthy competition, the buyers are the ultimate beneficiaries. We should also bear in mind that the market will stabilise,” Ojulari said. “There may be some tension along the way because we are undergoing a major transition.”
His comments come amid an ongoing fuel price war that has resulted in successive reductions at petrol stations across the country in recent weeks.
Earlier in December 2025, Dangote Refinery cut its gantry price to about N699 per litre. Following this move, MRS filling stations, NNPCL outlets, and other marketers reduced pump prices to between N739 and N901 per litre in Abuja.
An aircraft belonging to Enugu Air has crashed at Benin City airport in Edo State.
The incident reportedly occurred on Thursday afternoon.
A video of the incident was shared on social media by an X user identified as @Oyindamola
“Enugu Air aircraft crash lands in Benin Airport this afternoon,” the X user wrote.
DAILY POST reports that the Enugu Air is owned and operated by the Enugu State government.
There’s was no official statement on the matter by the aviation authorities at the time of filing in this report.
Watch video.…For more, Complete your reading.
The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of Premium Motor Spirit, PMS at its retail outlets for the second time in less than two days.
A market survey by DAILY POST showed that NNPCL raised its petrol price to N1,335 per litre on Wednesday from N1,270 per litre on Tuesday.
This means that the state-owned filling station increased its fuel price by N65 per litre.
The new price has been implemented at NNPCL filling stations in Wuse Zone 6 (Berger), Zone 4, and other outlets in Abuja and its environs.
Recall that on Tuesday, NNPCL increased its petrol pump price by N115 per litre to N1,270 per litre.
The latest increase comes amid continued petrol price volatility in the country’s downstream oil sector following Dangote Refinery’s resumption of the sale of refined petroleum products in U.S. dollars.
DAILY POST reports that crude oil prices rose by nearly 4 percent on Wednesday as airstrikes intensified in the Middle East.…For more, Complete your reading.
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