This marks the second price cut by the national oil company within two weeks, following a reduction from N1,060 to N1,030 per litre, as competition with Dangote Refinery’s products intensified.
Motorists have welcomed the price adjustment, expressing hope for further reductions.
Mr. Adamu Shuaibu, a commercial driver operating on the Nyanya-Zuba route, said: “I noticed the new price yesterday. The government is trying, but they should do more.
The price should return to N530 per litre so that the cost of other goods can decrease too.”
Similarly, Mr. Taofeek Adetunji, a private car owner, commended the development, linking it to ongoing economic reforms by President Bola Tinubu.
“When the President promised his reforms would yield results, many doubted him. But now you can see it. We are optimistic that prices will keep dropping. Petrol is vital to the economy, and this reduction will soon reflect in the cost of goods and services.”
Both drivers urged the Federal Government to sustain efforts to make petrol more affordable. (Vanguard)
