Marketers and experts reveal new petrol price as NNPC, Dangote end crucial deal

• Experts and marketers person disclosed that petrol prices volition emergence again arsenic the naira-for-crude woody betwixt refineries and NNPC fails
• They asked Nigerians to hole arsenic the deal’s illness volition sprout up petroleum merchandise prices again
• Marketers besides revealed that the improvement volition unit the naira to suffer its stableness arsenic request for the dollar increases

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the system for implicit a decade.

Following the suspension of the naira-for-crude statement betwixt the Nigerian National Petroleum Company Limited (NNPC), the Dangote Refinery and home refiners, Nigerians person been asked to brace up for higher PMS prices.

The improvement comes arsenic the parties could not renew the naira-for-crude woody entered into successful October past year.

Aliko Dangote, Chairman of the Dangote Group and GCEO of NNPC, Mele Kyari's speech connected crude lipid proviso stalls. Credit: Bloomberg/Contributor
Source: UGC

The naira-for-crude reduced petrol prices

The woody ensured that home refineries, including the mega Dangote Refinery, get crude lipid successful the section currency to guarantee availability, amended pricing and reduced prices.

With the woody collapsing, marketers and energy argumentation analysts person asked Nigerians to brace up to wage much for petroleum products.

Dangote Refinery announced a temporary halt to the income of petroleum products, including PMS successful naira arsenic the talks betwixt the NNPC and the installation stalled.

Following the announcement by Dangote, the outgo of loading petrol astatine backstage deports reportedly roseate to N900 per litre from N850 connected Wednesday, March 19, 2025.

Experts inquire Nigerians to brace up for higher prices

Experts person said this is expected arsenic the Dangote Refinery remains the large supplier of PMS to astir filling stations nationwide.

Adeola Yusuf, an vigor argumentation expert and Team Lead astatine Platforms Africa told Legit.ng successful a chat that with President Bola Tinubu's May 29, 2023 announcement of full deregulation of the downstream lipid sector, the petrol pricing has and volition proceed to person regular adjustments. 

He said that added to the variables liable for this is the Dangote refinery, which has go 1 of the large players successful the post-deregulation market.

According to him, with the backstage refinery's suspension of petrol merchantability successful naira, an upward reappraisal of the terms is instantly imminent astatine filling stations of marketers that get proviso from the refinery. The refinery volition set its price, and this volition tickle down to filling stations that get proviso from it, helium said.

“It may, however, beryllium hard to generalise the reappraisal astatine different stations that get proviso elsewhere earlier this.“We indispensable enactment that NNPC Limited remains the astir liable for the proviso and organisation of the product.“Nonetheless, the Dangote Refinery has, aft the commencement of production, announced reductions successful the terms astatine MRS, a presumption that receives proviso from it connected 2 occasions owed to benefits accruable from the naira for crude supply. “The nutrient of the Dangote Refinery's latest announcement is for Nigerians who volition beryllium getting proviso from Dangote done MRS and different marketers to beryllium alert and brace up for an imminent reappraisal astatine those stations,” Yusuf said.

He said this volition impact the contention oregon what immoderate Nigerians described arsenic a beneficial terms warfare that has ensued betwixt Dangote Refinery and NNPC Limited. 

“The bigger representation is that it is apt going to pb to a monopoly,” helium stated.

He asked the parties to fast-track the dialog to support lubricating the instrumentality of a escaped marketplace and competition, which are the large gains of the deregulation.

Also, speaking exclusively to Legit.ng, Ishaya Ibrahim, writer and fiscal expert said the deal’s suspension reeks of sabotage.

According to him, it makes nary consciousness that NNPC volition not prioritise home refineries with its crude sales, saying it is adjacent the close of section refineries, including Dangote to person the 400,000 bpd crude lipid proviso allocated to Nigerian refineries successful the PIA. 

“So, the enactment of the NNPC reinforces the allegation that immoderate elements successful the NNPC are down the blending plants successful Malta and volition not relent successful making Nigeria babelike connected imported petrol. “It swells their pockets astatine the disbursal of Nigerians who volition person to wage much for petrol due to the fact that this latest disruption successful the Naira for crude woody volition escalate prices. "This is particularly due to the fact that Dangote volition present person to denominate his prices connected dollars, which does not warrant terms stableness since the Naira is the weaker currency successful the exchange,” Ibrahim said.

Marketers foretell caller prices

Meanwhile, the nationalist vice president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, said the improvement could unit the naira to suffer its stability, Punch reports.

Fashola revealed that petrol prices volition go reliant connected the speech rate, crude lipid terms and different factors determining the landing cost.

He said Dangote’s suspension of naira income whitethorn not impact prices instantly arsenic the landing cost of imported petrol has crashed to N774.82, informing that the section currency volition endure owed to the deal’s collapse.

Fashola said the ex-depot prices person risen from N825 to N836 per litre, asking the Nigerian authorities to intervene.

Dangote to complaint marketers successful dollars arsenic a important woody with NNPC collapses. Credit: Bloomberg/Contributor
Source: UGC

The nationalist president of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), Billy Gillis-Harry said the deal’s suspension volition rise petroleum merchandise prices again.

He said marketers astatine the gathering told the parties not to let the woody to illness due to the fact that of its antagonistic effects connected substance prices.

Dangote refinery crashes petrol prices again

Legit.ng earlier reported that connected Thursday, March 13, 2025, the Dangote Refinery escalated the petrol terms warfare by softly lowering the PMS price astatine its loading gantry.

The elephantine refinery crashed petrol prices from N825 per litre to N815.

The improvement came arsenic the works introduced a caller pricing operation connected Thursday, March 13, 2025.

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Source: Legit.ng