The Nigerian National Petroleum Corporation (NNPC) recently announced some of its key strategic interventions have resulted into a significant drop in the price of diesel by about 42 per cent across the nation thereby taking Diesel prices down to as low as #540 from Depot.
NNPC stated that in the first quarter (Q1) of 2017, the retail prices of diesel, which is one of the deregulated petroleum products in the country, was N300 per litre in major demand centres, but that prices were now within a bandwidth of N175 and N200 per litre.
Such unpleasant situation placed a huge burden on truck drivers who need the product for transporting their vehicles, the nation’s manufacturing sector which requires it to run its operations, as well as on the masses who need it for household power generation.