The Dangote Refinery has announced a significant reduction in its ex-depot petrol price to N835 per litre, shaking up Nigeria’s downstream oil market and sparking concerns among fuel marketers and importers.
This marks a N30 drop from its previous rate of N865 per litre and comes just eight days after an earlier reduction, totaling a combined cut of N45 per litre since April 9, 2025. The price review is linked to continuing the federal government’s naira-for-crude oil exchange deal, creating a quasi-subsidy structure supporting local refiners.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), welcomed the price cut but expressed concern over the losses marketers will incur on existing fuel stocks purchased at higher rates. “Marketers with old stock will have to sell at a loss. This is a good development for Nigerians, but it’s a heavy blow to retailers,” he said.
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In a statement by Dangote Group spokesperson Anthony Chiejiena, the company revealed that major partners such as MRS, Ardova (AP), Heyden, Techno Oil, and others will sell petrol between N890 and N920 across Nigeria, depending on the region:
- Lagos: N890 (down from N920)
- South-West, North-West, North-Central: N900–N910 (down from N930–N940)
- South-East, South-South, North-East: N920 (down from N950)
“These price reductions reaffirm our commitment to delivering affordable, high-quality petrol to Nigerians,” Chiejiena noted. “We believe this will ease economic pressures and contribute to growth, especially during the Easter season.”
However, not all industry players are pleased. The President of Petroleum Retailers Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, criticized the unilateral price reductions and called for a six-month fuel price stability plan to protect smaller marketers.
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Meanwhile, industry data shows that Dangote Petrol now sells below the import landing cost of N845.70 per litre, giving the refinery a major competitive edge. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) also reported a 30 million litre drop in fuel importation, attributing the shift to increased local supply by the Dangote Refinery.
The Nigerian National Petroleum Company (NNPC) has yet to respond to the price cuts. As of Wednesday night, NNPC retail outlets continued selling petrol at N950 per litre, sparking questions about future price adjustments.
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