See more as Dangote reduces petrol prices, gives importers new headache

• Dangote Refinery has erstwhile again reduced its petrol price, intensifying terms contention with importers
• The latest simplification is for marketers, and it is expected that they volition set their pumps astatine filling stations nationwide
• In the past fewer days, petrol importers person brought successful implicit 300 cardinal litres and justified continuing imports

Legit.ng writer Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends

Dangote Petroleum Refinery has erstwhile again reduced its petrol prices arsenic it seeks to exert its dominance implicit Nigeria’s substance market.

The latest terms cut, targeted astatine marketers who are filling presumption owners, has present reduced its petrol terms to N831 connected Tuesday, May 20

Dangote refinery offers rebate to marketers again Photo credit: Bloomberg/contributor
Source: Getty Images

On Monday, Marketers paid N834 per litre to bargain petrol, petroleumprice.ng reports that Dangote refinery is present refunding customers the N3 difference.

A akin discount strategy was employed by Dangote Refinery the erstwhile week, erstwhile it reduced prices by offering customers a N10 rebate.

Unlike the earlier rebate strategy which ran from aboriginal May until May 15 this latest circular comes with nary authoritative announcement oregon expiry date, signalling a imaginable semipermanent pricing strategy.

An authoritative quoted said:

"The caller rebate is not being openly advertised, but marketers are already adjusting. Dangote is intelligibly leveraging its standard to propulsion successful much marketplace share.”

With this reduction, Dangote refinery partners can present connection petrol astatine a lower retail terms at their filling stations

Depots slash prices to compete

Dangote refinery's caller determination has triggered swift responses from rival depots.

Operators specified arsenic MAO and A.A Rano reduced its prices to N836 and N835 per litre, respectively, trimming rates to clasp marketplace share. Sahara and AIPEC besides chopped prices by N2 per litre, some present selling astatine N835.

Filling presumption owners expected to set petrol price Photo credit: Nurphoto
Source: Getty Images

332.4 cardinal litres of petrol imported

Meanwhile, eight home lipid companies imported a combined 332.4 cardinal litres of petrol betwixt May 11 and 16, 2025, according to information from the latest Tanker Position Report.

The full volume, equivalent to 277,000 metric tonnes (MT), was discharged oregon scheduled for discharge astatine cardinal coastal depots successful Lagos, Warri, and Calabar.

Pinnacle Oil led the importers, accounting for much than fractional of the country’s petrol inflow during the six-day period. The institution received 2 large consignments: 90,000 MT from the HAFNIA TRITON and 62,000 MT from the LEYTE SPIRIT, bringing its full to 152,000 MT, oregon astir 182.4 cardinal litres.

NNPC is not producing petrol

Ealier, Legit.ng reported that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has revealed that the Nigerian National Petroleum Company Limited (NNPC) refineries are not producing petrol.

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has noted that its members are presently incapable to root petrol from home refineries owed to constricted output of petrol-grade products.

According to Olufemi Adewole, Executive Secretary of DAPPMAN, though the revamped Port Harcourt and Warri refineries are operational, they are chiefly producing naphtha alternatively than petrol.

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Source: Legit.ng