May 14, 2025 — In a strategic move to strengthen its position in Nigeria’s fuel market, Dangote Petroleum Refinery has lowered the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦825 per litre. This reduction from the previous ₦835 per litre is seen as a response to increasing competition from fuel importers and private depot operators.

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Industry analysts suggest that this price adjustment is aimed at providing better value to customers and consolidating Dangote’s leadership in the domestic market. The refinery’s aggressive pricing strategy has prompted discussions among stakeholders about market dynamics and fair competition.

Market Reactions and Implications

Following the price cut, several partner filling stations, including MRS, Heyden, and others, have adjusted their pump prices accordingly. Reports indicate that some stations are now retailing petrol at prices ranging between ₦830 and ₦835 per litre, reflecting the new ex-depot rate.

While consumers may benefit from lower fuel prices in the short term, some industry players have expressed concerns over the potential for market monopolization. The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has raised alarms about the refinery’s pricing approach, suggesting it could disrupt the balance of the downstream sector if not properly reguler

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Broader Economic Context

The reduction in petrol prices by Dangote Refinery comes at a time when Nigeria is striving to stabilize its energy sector and reduce dependence on imported petroleum products. By leveraging local refining capacity, the country aims to enhance fuel availability and potentially lower costs for consumers.

However, the ongoing price adjustments also highlight the need for clear regulatory frameworks to ensure fair competition and prevent market dominance by any single entity. As the situation evolves, stakeholders will be closely monitoring the impacts on both the industry and the broader economy.

Note: This article is based on recent reports and industry analyses. For the most current information, readers are encouraged to consult official statements from Dangote Petroleum Refinery and relevant regulatory bodies.