-News Editor
In a move that intensifies competition in Nigeria’s downstream oil sector, Dangote Refinery has again reduced its petrol loading price, lowering it from N825 to N815 per litre on Thursday.
This marks the refinery’s third price cut in 2025, following reductions on February 1 and February 26.
Oil marketers have responded swiftly, bypassing private depot owners to source their products directly from the refinery. “This is a welcome development,” said an independent marketer in Lagos. “It gives us a competitive edge and provides some relief to consumers.”
Industry analysts predict that the N10 price drop may force private fuel depots to follow suit to maintain market share. Already, depot prices in Lagos have adjusted, now ranging between N820 and N839 per litre to stay competitive.
Meanwhile, the landing cost of imported petrol has also decreased, dropping to N774.72 per litre as of Tuesday. This trend has led to speculation that pump prices could fall to around N800 per litre, offering potential relief to consumers.
A source within the industry noted, “If this trend continues, we might see further reductions in both depot and pump prices, bringing some stability to the market.”
With both local refining and importation playing critical roles, stakeholders are closely monitoring whether this price war will lead to a long-term shift in Nigeria’s fuel pricing dynamics.
