Petrol Prices Drop Below Dangote’s Rate as Importers Stir Competition
- Petroleum marketers have slashed petrol prices below Dangote Refinery’s rate as the fuel war intensifies
- Findings show that independent marketers are now selling petrol between N30 and N35 below the rate offered by Dangote partner stations
- Experts have said that the latest price cuts by marketers present a significant challenge to Dangote Refinery
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Petrol marketers have fired a major shot in Nigeria’s downstream oil war, slashing prices below the Dangote Petroleum Refinery’s rate.
Findings show that some depots and retail stations now offer petrol at N815 to N847 per litre, cheaper than the N820 per litre from Dangote and N825 from the Nigerian National Petroleum Company (NNPC).
Source: Getty Images
Independent stations offer cheaper alternatives
This surprising shift is part of a strategic move by importers to remain competitive, especially as Dangote continues price adjustments to defend his turf.
Fuel stations in Lagos and Ogun, including SGR and others, have started selling at prices as low as N847 per litre, while Dangote partners, such as MRS and Heyden, still maintain prices of N865–N875 per litre.
Petroleumprice.ng reports that depots like Aiteo and Menj now offer prices around N815 per litre.
This retail shift suggests a growing price battle that could benefit consumers in the short term.
Dangote alleges unfair market practices
Aliko Dangote is not taking the undercutting lightly.
He has accused fuel importers of flooding the market with subsidised and sometimes toxic products, many of which, he says, wouldn't be accepted in Europe or North America.
According to Dangote, these practices threaten Nigeria’s refining future and discourage investment in local production.
Calls for import ban intensify debate
In response to the mounting pressure, Dangote has urged the Federal Government to implement a ban on petroleum product importation.
He believes this will protect local refineries and stabilise the market.
Dangote argues that if the “Nigeria First” policy applies to other sectors, it should also be extended to the oil and gas sector.
Marketers push back, embrace liberalisation
According to a Punch report, marketers have strongly opposed the idea of an import ban.
According to Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), liberalisation is driving healthy competition.
“Depot owners are dropping prices. That’s the power of an open market,” he said.
Regulation exists to check product quality
In response to concerns about toxic fuel, marketers insisted that regulatory bodies like the Nigerian Midstream and Downstream Petroleum Regulatory Authority are fully equipped to monitor fuel quality.
They argue that banning imports is unnecessary and counterproductive.
Instead, they say local refining and free-market competition will ultimately lead to fairer prices and better fuel standards.
Source: Getty Images
A Market battle with wider implications
As the price war escalates, consumers are stuck between two forces: importers offering lower prices and a local refining giant demanding market protection.
How the government responds could reshape the future of Nigeria’s fuel market.
For now, cheaper pump prices are a welcome relief, but uncertainty still looms over the sustainability of this new fuel war.
Dangote Refinery slashes cooking gas price
Legit.ng earlier reported that A few days after threatening to slash the price of liquefied natural gas (LPG) in Nigeria, Aliko Dangote seems to have made good on his promise.
A prior report by Legit.ng disclosed that the billionaire announced plans to cut cooking gas prices and cautioned marketers against bypassing traditional distribution channels if they do not comply with the refinery’s pricing guidelines.
The billionaire businessman disclosed this during a facility tour with the Lagos Business School’s GCEO Africa delegation at the Lekki-based refinery on Tuesday, July 15, 2025.
Source: Legit.ng
