Dangote Announces New Partner To Sell Its Petrol in Nigeria As NNPC Releases New Pump Prices

• Dangote Petroleum Refinery has announced a new partnership to distribute affordable petrol in Nigeria
• The new marketer has now increased the number of partnerships available for Dangote Refinery petrol to four
• This development comes hours after NNPC-limited filling stations reduced pump prices nationwide

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 Refinery has announced Optima Energy as its latest partner for the sale of petrol across the country.

Optima Energy joins MRS Nigeria, Ardova PLC, and Hyden as the other partners working directly with Dangote to sell affordable fuel.

In a message shared on its X, Dangote encouraged Nigerians to buy from its partners.

Dangote said:

"For high-quality and affordable PMS (petrol), visit our partners' retail outlets nationwide and enjoy the following competitive prices per litre.

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The refinery released its partners' prices as follows:

NNPC ready to compete, reduces pump prices

In response to Dangote's new fuel prices, the Nigerian National Petroleum Company Limited (NNPC) reduced its pump price of petrol to N860 per litre from the previous price of N945 per litre.

The new NNPC price took effect on Monday, 3 March 2025.

Dangote Refinery recently announced a reduction in its ex-depot price from N890 per litre to N825, representing a N65 decrease.

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The mega refinery also stated that, in collaboration with its partners, it would make fuel available at a more affordable price.

Additionally, it pledged to compensate oil marketers who previously purchased fuel at a higher price.

Also, Dangote said it would reimburse Nigerians with proof that its partners were sold above the rates advertised.

Statement read:

“It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of N825 per litre and then sell to consumers at N945 or more per litre. This constitutes excessive profiteering, further burdening Nigerians for personal gain.

“Dangote refinery, in its effort to ensure good quality and affordable fuel for Nigerians, is working with its partners to make this price accessible.

"Consumers who purchase fuel above the advertised rate at any of its key partners (Ardova Plc (AP), Heyden, or MRS) anywhere in Nigeria are encouraged to report to Dangote refinery with their receipts for a full refund of the excess amount."

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Analyst weighs in on market competition, economic shifts

Charles Abuede, chief economist at Cowry Asset Management Limited, says the ongoing fuel price battle between Dangote Refinery and NNPC is reshaping Nigeria’s oil sector, with implications for pricing, supply, and the economy.

In a chat with Legit.ng, he described Dangote’s price cuts as a turning point.

"Dangote’s price cuts signal a new phase for Nigeria’s petroleum industry, with the potential for lower fuel prices, improved supply stability, and reduced dependence on imports," the financial analyst said.

On sustainability, he stressed the need for stable crude supply to Dangote and other refiners like BUA and Waltersmith.

"If crude prices remain stable or decline, refining costs could drop, leading to lower pump prices. As Dangote ramps up production, competition will intensify, further driving down prices," he explained.

He also noted that NNPC, as a dominant player, may have to rethink its pricing strategy to stay competitive.

Read also

Dangote Refinery’s fuel price slash triggers rush at AP, MRS, Heyden filling stations

For the economy, Abuede mentioned key benefits.

"It will open further room for more entrance into the sector and create fair competition and pricing of the products. For the economy, it will lead to reduced fuel importation which will lead to increased exports of crude oil, boosting fx earnings. This would strengthen Nigeria’s forex reserves, bolster the naira, and ease inflationary pressures—ultimately leading to lower prices across key economic sectors," he concluded.

Dangote Refinery buys crude oil from Algeria

In an earlier by Legit.ng, Dangote Refinery bought its first consignment of Algeria’s light sweet Saharan blend crude.

The giant refinery reportedly bought one million barrels of cargo from Glencore, the trading firm with the consignment billed to arrive in March 2025.

Editorial assistant Ololade Olatimehin provided exclusive commentary from a financial analyst for this report.

Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng