Why Dangote Refinery Cuts Petrol Prices Again, Marketers Express Mixed Reactions

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For the second time in a week, Dangote Petroleum Refinery has reduced the price of Premium Motor Spirit (PMS), commonly known as petrol. Effective April 16, 2025, the ex-depot price dropped from ₦865 to ₦835 per litre—a follow-up to last week’s reduction from ₦880 to ₦865.

Despite the announcement, most filling stations, including those operated by the Nigerian National Petroleum Company Limited (NNPCL), have yet to adjust their pump prices.

Marketers welcomed the move but raised concerns over “arbitrary” reductions, warning of potential market losses.

Dangote’s Group Chief Branding and Communications Officer, Anthony Chiejina, confirmed the new pricing structure across partner outlets:
– Lagos: ₦890 (down from ₦920)
– South West: ₦900 (from ₦930)
– North West/Central: ₦910 (from ₦940)
– South East, South South, North East: ₦920 (from ₦950)

Chiejina stated that the refinery remains committed to affordable, high-quality petrol, citing previous reductions in diesel and LPG prices.

He linked the latest cut to global crude oil price fluctuations, noting Brent crude’s volatility amid U.S.-China trade tensions.

However, as of Tuesday evening, many stations nationwide still sold petrol at higher rates—up to ₦990 in Kano and ₦950–₦980 in Maiduguri. In Abuja, NNPC outlets maintained ₦950/litre, with others charging N950 to N960.

PETROAN President Dr. Billy Gillis-Harry cautioned against frequent price changes, urging a 180-day stabilization period to guide investments. Otunba Adetunji Oyebanji, another marketer, acknowledged market dynamics but noted that stations with old stock may delay adjustments to avoid losses.

Dangote urged stakeholders to source products from its refinery to maximize the price benefits, emphasizing its role in stabilizing supply and boosting Nigeria’s forex reserves. Industry observers anticipate NNPC may soon follow suit with a price revision.