NNPC petrol price drops to N1,205 in Lagos, undercuts other filling stations
By Aboki Forex —
NNPC Retail outlets in Lagos are selling petrol at N1,205 per litre, below the prices charged by most other filling stations across the country. The new rate comes as depot prices fell on August 14, with Dangote Refinery offering petrol at N1,166 per litre in Lagos.
A motorist buying 50 litres at the cheapest NNPC outlet could save up to N2,250 compared with stations charging N1,250 per litre.
Pump prices across marketers
The NNPC outlet along Awolowo Road in Lagos sells at N1,205 per litre. Most other filling stations charge between N1,230 and N1,250. At NNPC's Ushafa Bridge outlet in Abuja, petrol sells for N1,250 per litre, showing price differences even within the state-owned company's retail network.
Prices at other major marketers are clustered in the mid-to-upper end of the range. First Royal sells at N1,230, TotalEnergies at N1,232, and Mobil at N1,234. Ardova also charges N1,234. Conoil sells at N1,236, MRS at N1,238, Rainoil at N1,240, NIPCO at N1,246, and Oando at N1,248.
The current figures mark a significant fall from the previous average of about N1,310 per litre. This offers some relief to motorists and commercial transport operators.
Depot prices fall across locations
Petrol depot prices recorded on August 14 showed reductions in Lagos, Port Harcourt, Calabar and Warri. In Lagos, Dangote Refinery's depot price was N1,166 per litre, down N2 from the previous rate. MRS quoted N1,167, while 11 PLC and Nipco both sold at N1,170. Aiteo sold at N1,175. African Terminal, Ardova, Bono, Pinnacle and Pivot were mostly around N1,180. Integrated quoted N1,179, an N11 reduction.
In Port Harcourt, Bulk Strategic, Liquid Bulk and Sigmund each sold at N1,197 per litre. Bulk Strategic and Liquid Bulk were each down N8. Matrix sold at N1,205, a N7 reduction.
In Calabar, Fynefield and Hong Petroleum both sold at N1,180 per litre, each down N18. Jenny quoted N1,182, Mainland at N1,190, Northwest and Sobaz at N1,183, and Soroman at N1,180 after an N18 cut.
In Warri, Matrix, Nepal and Parker all quoted N1,205 per litre. Parker reduced its price by N10.
Impact on consumers and competition
For a motorist in Lagos buying 50 litres at the N1,205 NNPC Awolowo outlet, the saving is N1,250 compared with a station selling at N1,230, and N2,250 compared with a station charging N1,250. The closing gap between depot and retail prices points to growing competition among marketers as they respond to lower supply costs. Pump prices can still vary widely within the same city depending on location, transport logistics and individual supply arrangements.
Dangote Petroleum Refinery has confirmed its ability to meet Nigeria's fuel needs, with a daily petrol supply capacity of 75 million litres, exceeding the estimated national demand of 50 million litres. The refinery also says it can produce 25 million litres of diesel daily, above the estimated demand of 14 million litres, and 20 million litres of aviation fuel, well above domestic consumption. This surplus capacity is expected to stabilise the market, reduce dependence on imports, and strengthen the country's downstream fuel supply chain.