Nigerians expressed frustration after the first batch of petrol from the Dangote Refinery hit the market, as prices exceeded expectations. Many hoped for a price reduction with local refining, but the Nigerian National Petroleum Company Limited (NNPCL) priced the fuel higher than imported petrol, with prices ranging from N855 to N950 per liter, depending on the region.
Despite expectations, the price increase has left citizens disappointed. Residents across Nigeria, from Lagos to Kaduna, voiced their concerns, questioning why locally refined fuel is more expensive than imported petrol. Many blamed the NNPCL for controlling the market and preventing Nigerians from benefiting from the new refinery.
Experts explained that crude oil, being an international commodity, still dictates fuel prices in Nigeria. Until the refinery begins sourcing crude in naira in October, Nigerians may not see a drop in fuel costs.
