Nigerians still feel the pinch despite Dangote's six petrol price cuts

• Dangote Refinery has implemented aggregate terms cuts connected petrol passim 2025, reducing prices to amended affordability crossed Nigeria
• Despite these efforts and caller reductions to arsenic debased arsenic N875 per litre successful Lagos, petrol prices stay comparatively precocious
• Marketers person raised concerns implicit abrupt terms changes affecting their nett margins, portion the refinery reassures of a unchangeable supply

Legit.ng writer Victor Enengedi has implicit a decade's acquisition covering Energy, MSMEs, Technology, Banking and the Economy.

Despite repeated terms cuts by Dangote Petroleum Refinery, the outgo of Premium Motor Spirit (PMS), popularly known arsenic petrol, remains comparatively precocious crossed Nigeria.

The refinery precocious announced different N15 simplification successful the terms of its premium petrol, bringing the outgo to N875 per litre successful Lagos, with determination variations ranging from N885 successful the South West to N905 per litre successful the South East, South South, and North East.

Despite Dangote's Multiple Price Cuts, Petrol Costs Still connected High Side
Source: UGC

These prices use done its web of partners specified arsenic MRS, Ardova (AP), Heyden, Optima Energy, Techno Oil, and Hyde.

Dangote aggregate petrol terms slashes

Dangote Petroleum Refinery has continually implemented price-cutting measures since it began operations, aiming to supply Nigerians with much affordable petroleum products.

Earlier successful 2025 alone, the refinery reduced petrol prices by a cumulative N195 per litre. For example, successful February 2025, the refinery chopped petrol prices twice, resulting successful a combined N125 reduction, followed by further cuts of astir N45 per litre successful April.

Other petroleum products similar diesel and Liquefied Petroleum Gas (LPG) person besides seen important terms decreases, enhancing affordability successful transportation, industry, and home vigor use.

However, contempt these efforts, petrol prices stay elevated compared to humanities levels. In January 2025, Dangote accrued its petrol terms to N955 per litre astatine the loading gantry, though this was aboriginal reduced.

The refinery’s ex-depot terms declined from N950 successful January to N825 successful precocious February, marking a crisp driblet wrong little than a month.

Despite these reductions, March saw an summation successful petrol prices pursuing the suspension of the naira-for-crude lipid statement with the Nigeria National Petroleum Company Limited (NNPCL).

This led to petrol selling astatine N930 per litre successful Lagos, up from the erstwhile N865.

The refinery reduced prices doubly successful April, bringing the gantry terms down from N880 to N835 per litre, and precocious further chopped prices successful May.

Despite these cuts, existent prices are inactive supra the levels seen successful March, with filling stations reportedly yet to afloat adjust, inactive selling petrol betwixt N890 and N910 per litre successful Lagos.

Marketers acrophobic astir terms cuts

According to Daily Trust, marketers person expressed interest astir the predominant and abrupt terms changes, which they accidental origin fiscal losses and borderline squeezes.

The Publicity Secretary of the Independent Petroleum Marketers’ Association of Nigeria (IPMAN), Chinedu Ukadike, warned that autarkic marketers look a challenging “lose-win” concern amid this terms volatility.

He said:

“The nonaccomplishment is that those who person already gotten petrol products from Dangote Refinery oregon its partners volition person to suffer a N20 to N25 borderline per litre and revert to the caller price.”

Dangote Petroleum Refinery reaffirmed its committedness to supporting Nigeria’s system and vigor information by refining petroleum domestically and emphasised its alignment with President Bola Tinubu’s Nigeria First argumentation and Renewed Hope Agenda.

The refinery besides assured the nationalist of a accordant petrol supply, capable reserves for section demand, and surplus for export to boost overseas speech earnings.

Despite Dangote's Multiple Price Cuts, Petrol Costs Still connected High Side
Source: Getty Images

States wherever residents paid much for petrol

Meanwhile, Legit.ng earlier reported that the mean retail price of petrol surged by 76.73% year-on-year to N1,239.33 successful April 2025, contempt a flimsy 1.77% dip from March’s N1,261.65.

According to the National Bureau of Statistics (NBS), prices alteration importantly by state, with Imo, Jigawa, and Sokoto signaling the highest mean prices, portion Yobe had the lowest.

Regional disparities persist, with the South East experiencing the highest mean petrol prices and the South West the lowest, highlighting ongoing volatility successful substance pricing contempt caller terms moderation efforts.

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Source: Legit.ng