Dangote Refinery has reduced its ex-depot premium motor spirit price to N815 per litre.
This latest price drop comes after fuel landing cost dropped to N774.82 per litre below Dangote Refinery’s N825 ex-depot prices.
Petroleum products marketers familiar with the development confirmed this to an online medium on Friday, 14 march, 2025
Meanwhile, unlike in the price drop on February 26, 2025, Dangote Refinery did not officially announce the new price reduction.
The development comes amid the ongoing price war between major players in Nigeria’s downstream oil sector.
The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, confirmed the development.
“It is true. There is speculation that the price of imported products is now lower. That is the reason for the price war.
“It is the beauty of deregulation. Dangote has millions of litres and would not want any external force to take its market share. So it would have forced the price reduction,” he said.
Meanwhile, it is not clear if Dangote’s latest petrol price reduction will lead to retail price reduction across its filling stations, such as MRS, which sells for N860 per litre in Lagos and N880 in Abuja.
In the past months, both Dangote Refinery and Nigerian National Petroleum Company Limited have engaged in a price war.
Meanwhile, the medium reports that the Petroleum Products Retail Outlet Owners Association recently visited the Minister of State Petroleum, Heineken Lokpobiri, to advocate for fuel price stability and competitive pricing.
