Dangote Refinery Releases New Fuel Prices for All Partner Filling Stations Nationwide
- Dangote Petroleum Refinery has six official partners to sell its petrol at an affordable rate across the country
- They are expected to follow the pricing template from Dangote when selling to Nigerians at their filling stations
- Dangote said this strategy is designed to provide high-quality petrol at affordable rates, benefiting all consumers
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Dangote Petroleum Refinery has released the official petrol prices for all its partner filling stations across the country.
These major downstream players are Ardova Plc, MRS Oil Nigeria Plc, Technooil, Optima Energy, Hyde, and Heyden.
Source: Getty Images
According to a price list shared on X on Tuesday, April 23, Dangote said that all its partner filling stations would sell fuel at N890 per litre to Nigerians in Lagos.
The message from the refinery about the latest fuel price update reads:
"For better quality and affordable PMS (petrol), buy from our partners' retail outlets nationwide at the following prices per litre.
"To report non-compliance, call +234 707 470 2099 or +234 707 470 2100. Our quality petrol and diesel are refined for better engine performance and are environmentally friendly."
Here is a breakdown of prices by location for all six partners, as announced by Dangote Refinery:
- Lagos: N890 per litre
- South-West: N900 per litre
- North-West and North-Central: N910 per litre
- South-East, South-South and North-East: N920 per litre
Source: Getty Images
Dangote Refinery reduces fuel prices
In an earlier statement, Dangote Refinery said the price reductions were part of its commitment to providing high-quality petrol at affordable rates, benefiting consumers across the nation.
It added that it was working collaboratively with its partners to ensure equitable reflection of this price reduction. Part of the statement reads:
"Dangote Petroleum Refinery has consistently worked to reduce the prices of petrol and other refined petroleum products, ensuring the continued benefit of Nigerian consumers. For example, in February, the refinery reduced prices twice by N125.
"In addition, products such as diesel and Liquefied Petroleum Gas (LPG) have also experienced significant price reductions due to the refinery's sustained efforts.
"We anticipate that this latest reduction in PMS prices will generate a positive ripple effect throughout various sectors of the economy, providing much-needed relief to consumers and contributing to broader economic growth.
"Dangote Petroleum Refinery remains steadfast in its commitment to ensuring a steady supply of premium-quality petroleum products, with sufficient reserves to meet domestic demand, along with a surplus for export. This strategy is designed to support the stability of the domestic market while also contributing to the growth of Nigeria's foreign exchange reserves."
Dangote, NNPC price war resumes to benefit Nigerians
The new price reduction resumes the ongoing price war between the NNPC, Dangote Refinery, signifying a pivotal shift in the nation's downstream oil sector.
The ongoing price war between the NNPC and Dangote Refinery marks a significant shift in Nigeria's downstream oil sector.
The battle for market dominance began in November 2024, when Dangote Refinery initiated aggressive reductions in its ex-depot petrol prices, forcing the NNPC to adjust its own pricing structure in order to stay competitive.
This rivalry has resulted in a drop in petrol prices in Lagos, which now hover around N860 per litre, signalling a move towards a more market-driven pricing model.
However, the competition was temporarily halted when the NNPC suspended the Naira-for-crude policy, leading Dangote Refinery to revert to dollar-based transactions instead of accepting the naira.
For Nigerian consumers, the price reductions provide much-needed relief from the soaring fuel costs that followed the removal of fuel subsidy in 2023.
With the resumption of the naira-for-crude initiative, analysts predict that if the price war continues, petrol prices could further decline to a range of N650 to N800 per litre, offering even more substantial savings.
While some Nigerians have welcomed the price cuts, there are calls for the government to ensure that these lower prices are maintained for the long term to create lasting economic benefits.
NNPC reduces fuel price below N900
In a related development, Legit.ng reported that the NNPC Limited had reduced the pump price for Premium Motor Spirit (PMS) for Nigerians yet again.
The new price came days after Dangote Refinery slashed costs for its partners to below N900 per litre, showing the importance of price competition.
This article has been updated by head of business desk, Victor Enengedi, with additional information.
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Proofreading by Bruce Douglas, copy editor at Legit.ng.
Source: Legit.ng
Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.
Bruce Douglas (Head of Copyeditors) Bruce Douglas has 13 years of experience in community media, including coverage of sports, human interest, crime and politics.
