Dangote cuts petrol depot price to N1,290 per litre, lowest in Lagos

Dangote Refinery has reduced its petrol depot price to N1,290 per litre, down by N18 from N1,308 per litre. The latest depot price data for Thursday, October 29, 2026, shows Dangote is now the cheapest petrol supplier among the Lagos depots reviewed.

Depot prices are the rates at which suppliers sell petrol to marketers. They can differ from pump prices at filling stations because of transportation costs and retailers' operating margins.

Lagos depots cut rates

In Lagos, Pinnacle and Rainoil each cut their petrol price by N20 to N1,300 per litre from N1,320 per litre. MRS and NIPCO sell at N1,310 per litre. MRS dropped by N14 from N1,324 per litre, while NIPCO fell by N10 from N1,320 per litre.

African Terminal reduced its price by N12 to N1,307 per litre from N1,319 per litre. Aiteo stayed at N1,317 per litre. Depot price data from Petroleumprice.ng showed the adjustments. Dangote Refinery-linked marketers sold below other major depot operators in Lagos as fuel marketers adjusted their rates.

Port Harcourt and Calabar also decline

In Port Harcourt, Bulk Strategic and Masters each reduced petrol prices by N8 to N1,325 per litre from N1,333 per litre. Matrix lowered its rate by N7 to N1,328 per litre from N1,335 per litre. T.S.L listed its current price at N1,325 per litre, unchanged.

In Calabar, Matrix reduced its petrol price by N6 to N1,332 per litre from N1,338 per litre. Northwest cut its rate by N5 to N1,335 per litre from N1,340 per litre. Soroman listed its current price at N1,330 per litre, unchanged.

Petrol depot prices declined in Lagos, Port Harcourt and Calabar. Dangote Refinery offered the lowest listed petrol price across the three locations at N1,290 per litre. Northwest in Calabar had the highest rate at N1,335 per litre.

Diesel prices also in focus

Earlier, depot owners in Lagos cut diesel prices below Dangote Petroleum Refinery's new gantry rate of N1,840 per litre, less than 24 hours after the refinery announced a price increase. Duport, Ibachem and Ibeto priced Automotive Gas Oil, commonly known as diesel, at N1,825 per litre.

The latest adjustments highlight intensifying competition among suppliers in Nigeria's downstream petroleum market. Lower depot prices can ease landing costs for marketers, but pump prices will still depend on transport costs and retailers' margins.