Petrol Price Drops Across Nigeria as Dangote Refinery Slashes Ex-Depot Rate to N1,250
By Aboki Forex —
Filling stations across Nigeria have started cutting petrol prices after Dangote Petroleum Refinery reduced its ex-depot price to N1,250 per litre from N1,275 per litre. The move has triggered a wave of price adjustments at depots and retail outlets nationwide.
In Lagos, NNPC filling stations now sell petrol at around N1,310 per litre, down from N1,320. MRS Oil stations are selling at N1,330 per litre, while Ardova Plc and Mobil stations are at N1,310 per litre. Asharami sells at N1,320 per litre.
In Abuja, NNPC, Ranoil, AA Rano, NIPCO Plc, and MRS Oil stations kept pump prices between N1,350 and N1,370 per litre. Sunset Energy and Emedab in Abuja adjusted prices to N1,345 and N1,360 per litre from N1,450 and N1,365 respectively.
Private depots across Lagos, Warri, and Port Harcourt have also reduced their ex-depot prices by between N1 and N22 per litre, depending on the supplier, quantity, and location. Data from Petroleumprice.ng shows that depot prices now match or fall below Dangote's gantry price. African Terminal, Aiteo, NIPCO, Ascon Oil, Bonny Oil, and Integrated Oil and Gas all quote around N1,251 to N1,252 per litre. Pinnacle Oil is at N1,256, while Liquid Bulk Petroleum sells at N1,285. Dangote Refinery's latest ex-depot price is N1,253 per litre.
The price reduction is linked to lower global crude prices and Dangote's push to stay competitive in the domestic market. Meanwhile, Dangote has approached the Federal High Court in Lagos to challenge fuel import licenses issued to NNPC and independent marketers, arguing that Nigeria now has enough local refining capacity to meet demand.