Two Filling Stations Sell Fuel Cheaper Than NNPC's Price of N945 per Litre
- Two oil marketers in partnership with the Dangote Refinery are currently selling fuel at a lower price than NNPC's
- Dangote Refinery has an agreement with MRS and Hyden to directly lift petroleum product for its facility
- The difference in petrol prices comes as Nigerian motorists struggle with high fuel costs 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.
MRS Nigeria and Heyden filling stations are selling petrol at lower prices than the Nigerian National Petroleum Company (NNPC) Limited's official rate of N945 per litre in Lagos.
Checks by Legit.ng showed that the MRS filling station has set its pump price at N925 per litre, while the Heyden filling station is selling at N940 per litre.
Source: Getty Images
The prices set by these two oil marketers represent a difference of N20 and N5 per litre, respectively, compared to NNPC's pump price.
Why are MRS, Hyden fuel prices lower?
Legit.ng reports that three key players in Nigeria’s downstream oil and gas sector MRS, Ardova Plc, and Heyden Petroleum in December 2024 signed a bulk purchase agreement with Dangote Petroleum Refinery.
In a statement, Dangote Group noted that the agreement enables marketers to secure a reliable and consistent supply of petroleum products at competitive prices, benefiting consumers nationwide.
Ardova Plc, as quoted by Dangote Group, emphasised the agreement's role in fostering a more competitive environment within Nigeria’s downstream sector.
The nation reports that while Ardova has been a key off-taker from Dangote Refinery since its inception, the new framework is expected to formalise and strengthen their partnership, delivering long-term benefits to both companies.
The statement reads
“Under this framework, Ardova Plc will off-take a full range of petroleum products from Dangote Refinery.
"While Ardova Plc has been a key off-taker since the refinery’s inception, this new framework will formalise a stronger partnership between both companies, further enhancing competition in Nigeria’s downstream oil and gas sector.
"The collaboration with Dangote Refinery is expected to have a transformative impact on Nigeria’s oil and gas market.
"By ensuring a stable and affordable fuel supply across the 1,000+ retail outlets operated by both companies, the agreement aims to mitigate the recurring issue of fuel scarcity that has long plagued the country."
MRS petrol prices outside Lagos
MRS oil in a post shared on X said petrol will be sold at N935 per litre in the South West, N945 per litre in the North, and N955 per litre in the South East region.
Dangote Refinery ex-depot prices
Legit.ng reported earlier that on February 1, 2025, Dangote Petroleum Refinery announced a reduction in its ex-depot price of petrol from N950 to N890 per litre.
This price cut is attributed to favourable developments in the global energy sector and a notable decline in international crude oil prices.
A statement from the group’s chief branding and communications officer, Anthony Chiejina, said that the latest reduction follows an earlier price adjustment on January 19, when an increase was implemented due to rising crude oil costs.
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Source: Legit.ng
