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According to Bayo Ojulari, the 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.
Following his briefing of President Bola Tinubu in Lagos on Sunday, Ojulari made the comments to reporters.
He explained that Nigeria’s shift away from reliance on fuel imports is a natural result of the current volatility in gas prices.
He adds that the current volatility will eventually subside and that more competition in the market ultimately benefits consumers.
“The buyers ultimately gain when there is healthy competition.” Additionally, we must remember that the market will stabilize, according to Ojulari. “We are going through a significant transition, so there may be some tension along the way.”
His remarks coincide with the continuing battle over fuel prices, which has led to several cuts at gas stations around the nation in recent weeks.
Dangote Refinery reduced its gantry pricing to roughly N699 per litre earlier in December 2025. In response, pump prices in Abuja were lowered to between N739 and N901 per litre by MRS filling stations, NNPCL stores, and other marketers.














