Lagos, Nigeria – Naija market don dey feel the sweet change as Dangote Refinery don slash petrol price from N880 to just N840 per litre. Abubakar Maigandi, wey be president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirm this gist during one exclusive talk with DAILY POST on Monday. E be like say the marketers dey ready to dance to the new price tune, as dem go begin implement am when dem load new product. (Omo, I for like see how dem go load this new price o!)
This be like fresh breeze wey blow for our petrol market, as Dangote Refinery wey fit process 650,000 barrels of crude oil per day don reduce im ex-depot price. Na serious matter as this one mean petrol price fit don dey come down for everywhere starting from Tuesday. Maigandi don talk say dem go gather for emergency meeting meet for Tuesday to decide how to carry the new price waka go everywhere. (E good say dem dey meet, make dem no just dey chop money like that!)
Na wetin dey cause this reduction be the recent change in the global oil market, especially with wetin dey happen between Israel and Iran. Ah, this war no be small matter – e don make oil prices waka up by fire! But as Nigeria sabi do am, once USA President Donald Trump announce ceasefire, the prices don start to dey calm down again. E no be small thing o; Brent crude and West Texas Intermediate don drop to $67.81 and $64.97 per barrel as of Monday night. (Who say war no fit affect our pocket? Na lie!)
Meanwhile, if you waka go filling stations for Lagos and Abuja, you go see say dem dey sell fuel between N875 and N970 per litre, depending on how dem pinky dem dey sell. MRS filling station wey partner with Dangote and NNPC don dey sell petrol for N945 as of Monday evening. But some places like Ranoil and Empire don dey cough petrol from N950 to N970. (Na only petrol matter wey no go finish for our life, abi?).
As e be say oil prices dey trickle down, NNPCL still don release their report wey show say dem make N6.008 trillion revenue for May 2025, small rise from N5.972 trillion wey dem record for April. Wetin carry this increase? Better production. Crude oil and condensate production don increase small to 1.63 million barrels per day. This be like gold for our economy wey don dey suffer. (But question wey dey one side be, wetin dem dey do with all this money?)
On the flip side, financial experts still dey worry as Nigeria debt profile don choke like jam for N149.39 trillion by first quarter of 2025. Dem say debt don increase by N27.72 trillion since last year. E be like say we dey borrow too much and spend ‘where e no suppose’ – the younger generation fit just dey enter wahala if government no fit manage this money well. (See e, we for no dey borrow like this if we get better plans, abi?)
As it stand, dem dey call for government to stop borrowing for political projects wey no fit help us; instead, make dem pump money into things wey go benefit the people. Nna, we no wan see politicians just dey chop money like say tomorrow no dey! (Make we pray say dem go listen o, before dem carry our future go play charades!)
In sum, the japa vibe for our petrol market dey sweet small, but things still dey hot for money matter. Naija need serious plans to fit handle all dis wahala, lest we go dey continue to suffer for the hands of dem wey dey suppose use our money wisely. (Big wahala dey come if we no take time!)
