NNPC Reduces Fuel Price by N10, Filling Stations Adjust Pumps Lower Than Dangote’s Rate

• The NNPC Limited has slashed its petrol pump price at its filling stations as competition with Dangote continues
• The latest change comes days after Dangote refinery instructed its partners to reduce their prices from N890
• The new prices mean that NNPC filling stations are now selling at a cheaper rate compared to Dangote partners

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

The Nigerian National Petroleum Company Limited (NNPCL) has slashed its petrol pump price to N870 per litre on Tuesday, May 27, 2025, for its Lagos retail stations.

This new price represents a N10 reduction from the previous pump price of N880 per litre, and once again, returns to NNPC stations as the place to get the cheapest fuel.

Ademola, a filling station attendant in Lagos who confirmed the new price to Legit.ng, said:

"This morning, we received instructions to adjust the pump price from N880 to N870 per litre."

Other filling stations reduce prices

Legit.ng's checks showed that, like NNPC, other fuel marketers have reduced fuel prices in Lagos.

For example, at the Mobil station in the Ikotun area, the pump price dropped from N880 to N875 on Tuesday. A similar change was observed at Petrocam, Matrix, and other stations.

Dangote refinery fuel prices

Earlier, Legit.ng reported that Dangote Petroleum Refinery recently reduced the retail fuel petrol price of its partners' filling stations, which include MRS, Ardova Plc (AP), Heyden, Optima Energy, TechnoOil, and Hyde.

Here are the new changes

• Lagos: N875
• South-West: N885
• North-East: N905
• North-West & Central: N895
• South-South: N905

Depot's petrol price changes

There is price competition also going on among depot owners, which could further reduce prices in Nigeria.

According to the latest price updates by petroleumprice.ng, Dangote Refinery reduced its pump price from N828 to N827 per litre, for marketers, while Eternal Oil adjusted its rate from N832 to N830.

NIPCO also cut its price from N838 to N837, and both AA Rano and Menj reviewed their prices downward from N831 to N830 per litre.

There were also changes for the Automotive Gas Oil (AGO) segment, also known as diesel, with varied price changes across terminals.

Chipet reduced diesel price from N917 to N916, Menj from N917 to N915, while Ibeto increased slightly from N917 to N918.

Dangote maintained its price at N925, Integrated rose from N917 to N919, and NIPCO saw a significant drop from N940 to N915.

Fuel price cut may be short-lived - Energy economist cautions

Reacting, energy economist Dr. Eyitemi Adegboye told Legit.ng that the current pricing changes are tied to both policy and evolving market realities.

“For years, the nation relied heavily on imported refined petroleum products, with international price fluctuations, forex instability, and government subsidies shaping retail costs,” she said.

Adegboye explained that recent government policy, which allows Dangote Refinery to purchase crude oil in naira instead of foreign currency, shows deliberate support for domestic refining.

She noted that although Dangote Refinery exports refined products, its operations are currently prioritising local demand to help stabilise domestic supply.

The expert added:

“Petrol now sells for N875 per litre in Lagos, but N905 per litre in the North-East and South-South, suggesting supply chain inefficiencies still influence final costs.”

The energy economist however warned that the current pricing relief may not last:

“The recent decline in crude oil prices has played a role in lowering depot costs, but this could change if OPEC’s supply adjustments or geopolitical factors drive oil prices back up.”

Dangote, NNPC price war resumes to benefit Nigerians

Earlier, Legit.ng reported that Bismarck Rewane, managing director of Financial Derivatives Company, said Nigerians will gain from the ongoing petrol price competition between Dangote Refinery and NNPCL.

Rewane said he is expecting a further decline in fuel prices until June 2025. He noted that the downward trend in petrol prices will provide a boost to economic stability.

Speaking further, the economist attributed Dangote Refinery's decision to lower its petrol price to increased production cost efficiency and other related factors.

Editorial assistant Ololade Olatimehin provided exclusive commentary from an energy economist for this report.

Proofreading by James Ojo, copy editor at Legit.ng.

Source: Legit.ng