Gas worth warfare’ll profit Nigerians, says NNPCL chief

The Group Chief Government Officer of the Nigerian Nationwide Petroleum Firm Restricted, Bayo Ojulari, on Sunday assured Nigerians that ongoing worth competitors within the downstream petroleum sector will in the end profit customers.

He described present market tensions as a pure consequence of Nigeria’s transition from whole import dependence to home refining.

“The place there may be wholesome competitors, the patrons are the final word beneficiaries. And I feel for us, we have to preserve our minds that the market will stabilise.

“After some time, there’ll be some stress, as a result of we’re going via a serious transition,” Ojulari informed journalists after briefing President Bola Tinubu in Lagos.

PidomNigeria On-line stories that the NNPCL boss made the remarks in opposition to the backdrop of an intense worth warfare that has seen petrol costs crash from over N1,200 per litre in November 2024 to as little as N739 per litre at some stores in December 2025, pushed primarily by competitors between Dangote Refinery, NNPCL and impartial entrepreneurs.

“On the finish of the day, I can let you know that Nigerians on the road are going to be the beneficiaries,” Ojulari declared.

Clarifying NNPCL’s function within the deregulated market, Ojulari emphasised that the corporate is not liable for petroleum product pricing or regulation underneath the Petroleum Trade Act.

“The very first thing you need to know is that the PIA did one thing basic. Earlier than the PIA in 2021, which rolled in 2022, every little thing was underneath NNPC, together with some rules.  The PIA divided the roles of regulation from what I’ll name the enterprise,” he defined.

Ojulari added, “The NMDPRA is liable for all downstream regulation and midstream, as you already know, and the NUPRC is liable for all upstream rules.

“So it’s crucial that Nigerians perceive that post-PIA, we as NNPC will not be regulators.”

He pressured that NNPC has been instituted by the PIA to develop into “a industrial firm, which implies an organization that should compete profitably and achieve success profitably.”

Ojulari disclosed that NNPCL not receives federation allocations and should elevate finance independently “like another enterprise.”

Nigeria’s downstream petroleum sector has been gripped by fierce competitors since September 2024, when Dangote Refinery, Africa’s largest single-train refinery with 650,000 barrels per day capability, started producing petrol regionally.

Based on the Nationwide Bureau of Statistics, the common retail worth of Premium Motor Spirit fell by N153 per litre between November 2024 and November 2025—from N1,214.17 to N1,061.35, pushed by provide enhancements and stronger competitors.

The worth warfare intensified dramatically in December 2025 when Dangote slashed its ex-depot worth from N970 to N699 per litre, forcing different gamers to comply with swimsuit or danger dropping market share.

MRS filling stations, Dangote’s retail accomplice, started promoting at N739 per litre nationwide, whereas NNPC stores dropped costs from N875 to between N825 and N840 per litre relying on location. Unbiased entrepreneurs adopted, with some promoting as little as N865 per litre.

Knowledge from Petroleumprice.ng confirmed that Dangote Refinery remodeled 20 worth changes in 2025 alone.

The speedy worth reductions created important challenges for petroleum entrepreneurs who bought merchandise at greater costs and now should promote at a loss or lose prospects solely.

Entrepreneurs Affiliation of Nigeria confirmed that “worth competitors now determines buyer loyalty,” with its spokesperson, Chinedu Ukadike, noting that “any marketer unwilling to regulate costs dangers dropping patronage and going through mounting financial institution curiosity prices.”

Ojulari described NNPCL as “the provider of final resort,” working intently with all key downstream gamers, together with Dangote Refinery, by which now we have an curiosity,” to make sure product availability.

“For us as NNPC, our focus is to generate extra manufacturing. As we generate extra manufacturing, we consider there’ll be extra manufacturing to feed the refineries as a lot as attainable.

“We additionally consider the extra manufacturing will create extra flexibility when it comes to capability for downstream gamers to have the ability to take part successfully,” he said.

Ojulari acknowledged that having main refineries like Dangote and NNPC’s rehabilitated amenities working concurrently has disrupted market equilibrium.

“To be sincere with you, by the point you might have a refinery like Dangote in-country, which has not been there earlier than, with NNPC refinery now underneath a serious relook, such an enormous refinery within the nation, you’ll be able to count on the market will likely be impacted proper now.

“All we have to do collectively is to stroll via that actuality,” he stated.

“Actuality is a good factor to have a serious refinery in Nigeria, supplying West Africa and different components of the world.

“The query now could be, how will we then be sure that the market forces stabilise so that everybody will be okay,” Ojulari added.

He emphasised that NNPCL would “let the NMDPRA handle the difficulty of competitiveness,” noting that “competitiveness will not be simple, and I feel in these early phases, we’re seeing quite a lot of stress with keen purchaser, keen market.”

Earlier than Dangote’s entry, Nigeria’s petroleum sector was characterised by near-total import dependence regardless of being Africa’s largest oil producer.

NNPC held a digital monopoly on imports and distribution underneath a closely subsidised regime.

The removing of gasoline subsidies by President Tinubu in Might 2023 led to pump costs skyrocketing from round N195 per litre to over N1,030 per litre by October 2024, worsening financial challenges for Nigerians going through inflation exceeding 30 per cent.

The Federal Authorities tried to restart the Port Harcourt refinery in November 2024, however imports remained important till Dangote’s manufacturing ramped up considerably in late 2024 and early 2025.

Ojulari stated he briefed President Tinubu on NNPCL’s manufacturing achievements in 2025, revealing that oil manufacturing has risen from 1.5 million barrels per day final yr to over 1.7 million barrels per day presently.

“A few of these are underpinned by very structural modifications inside the organisation,” he defined.

Fuel manufacturing additionally elevated from 6.5 billion commonplace cubic ft to over 7 billion commonplace cubic ft each day.

The GCEO stated NNPCL goals to realize not less than 1.8 million barrels per day in 2026, stepping towards President Tinubu’s goal of two million barrels per day by 2027 and attracting over $30bn in further funding by 2030.

Ojulari additionally disclosed that NNPCL has efficiently accomplished welding of the principle line of the Ajaokuta-Kaduna-Kano gasoline pipeline, together with crossing the River Niger.

“You keep in mind typically in summer season, we have been in a position to cross the River Niger, which has been a battle for a few years.

“By finishing this major line, what meaning now could be that we are able to start to attach, make all of the connections to the principle line, which we are going to do within the earlier components of subsequent yr,” he stated.

The 614-kilometre AKK pipeline will deliver gasoline to northern Nigeria for industrialisation, fertiliser crops and energy era when commissioned in early 2026.

“We consider that we’re in a superb state to have the ability to start the implementation,” Ojulari said.