The Nigerian National Petroleum Corporation Limited (NNPCL) has officially begun lifting Premium Motor Spirit (PMS), commonly referred to as petrol, from the Dangote Refinery in Lekki, Lagos, as of today, Sunday, September 15, 2024. This marks a significant moment in Nigeria’s energy sector, as citizens anticipate a reduction in fuel prices, which have been a source of widespread concern for months.

With at least 300 trucks already stationed at the refinery, the distribution of fuel across the country is poised to begin in earnest, sparking excitement among Nigerians. Many hope for a noticeable drop in the cost of petrol at filling stations, driven by the refinery’s ability to supply at a reduced price.

While the N766 per litre price has been confirmed by a senior aide to President Bola Tinubu, the exact retail price remains to be determined, as additional costs—such as transportation, levies, and marketers’ margins—will affect the final cost to consumers.