Wetin dey happen for our petrol market no be small matter as NNPCL boss, Bayo Ojulari, don yarn say this price competition go benefit wey Nigerians well well. Last Sunday, after hin talk with President Bola Tinubu for Lagos, Ojulari drop some serious gist about how this wahala wey dey happen now na normal thing as we dey shift from depending on import to local refining.

As e be now, petrol price don drop from over N1,200 wey we dey pay last year to about N739 for some filling stations. Na Dangote Refinery, NNPCL and some independent marketers dey carry this fight come front, and as Ojulari talk am, na we wey dey buy fuel go enjoy this matter. But hin also make am clear say this one no mean say some marketers no dey suffer from the competition.

Ojulari explain say with this new Petroleum Industry Act (PIA), NNPCL no dey control price again like before. Now, na NMDPRA dey handle all the regulation matter, while NNPCL dey work as commercial company wey need to make profit. E add say since Dangote Refinery start to dey produce petrol for September 2024, our market don change plenty.

As per statistics, the average price of petrol don fall by N153 from November 2024 to November 2025, thanks to better supply from competition. But December 2025 really show us pepper as Dangote reduce hin price from N970 to N699 per litre, and this one make other marketers dey slash hin prices too to keep customers.

Nigerians dey really enjoy the results now, as many filling stations don japa to prices wey no go pass N800 per litre. MRS stations now dey sell fuel at N739 per litre, while NNPC don bring hin own price down to between N825 and N840. But the wahala no dey finish for marketers wey buy fuel when e dey cost high. E don turn to small game of who fit dey sell cheaper pass others.

Chinedu Ukadike wey be spokesperson for Marketers Association talk say price competition don determine who customers go follow now. The way e be, any marketer wey no fit adjust hin price dey risk losing na customers and face wahala with bank interest. Na wetin Ojulari talk be say NNPCL go always dey there to make sure say everything dey alright, but na market go determine how everything go play out.

As we dey talk, NNPCL don raise hin oil production from 1.5 million barrels to over 1.7 million barrels per day. E dey plan to push am go 1.8 million barrels by next year. Their target na 2 million barrels by 2027 with over $30 billion investment coming in by 2030. This one dey show say NNPCL dey serious about their game.

For the gas side, dem don complete the welding for AKK pipeline wey go carry gas to northern Nigeria. This pipeline go ready by early 2026 wey go help plenty for power generation and fertiliser production. Ojulari talk say dem dey gree to make sure say supply no go jam, so we fit expect better days ahead.

So, my people, make we keep our eyes for this petrol price matter as e dey unfold. As e be like this, we go fit chop better chikun for our pockets with all these price reductions.