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Fuel Price War: Dangote Refinery Slashes Prices, Sending Petrol Importers Into A Frenzy
Petroleum product importers are raising concerns over the ongoing price reductions by Dangote Petroleum Refinery, fearing that some dealers may be forced to sell below cost price as consumers flock to more affordable sources.....KINDLY READ THE FULL STORY HERE▶
On Wednesday, Dangote Refinery announced a N65 reduction in the ex-depot price of petrol, dropping it from N890 to N825 per litre, effective February 27. This marks the second price cut this year and the third in the past two months.
Despite a decline in fuel imports, some dealers continue to bring in refined petroleum products. According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority, about 50% of the country’s fuel supply still comes from imports.
Dangote Refinery explained that the price adjustment was aimed at easing the burden on Nigerians ahead of Ramadan and supporting President Bola Tinubu’s economic recovery plan.
“It’s important to note that Dangote Petroleum Refinery has consistently lowered the prices of petrol and other refined products for the benefit of Nigerians. This is the second reduction of petrol prices in February 2025, following an earlier N60 decrease,” the refinery stated.
The refinery had also reduced the price of petrol by N70.50 in December 2024, bringing the price from N970 to N899.50 per litre during the festive season to ease the cost of living and avoid the usual fuel scarcity and price hikes.
Customers will now be able to purchase Dangote petrol at new prices from the refinery’s partners, including MRS, Heyden, and Ardova. The prices at retail outlets will range from N860 per litre in Lagos to N895 per litre in the South-South and South-East regions.
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