The Dangote Petroleum Refinery has announced another reduction in petrol prices, dropping the ex-depot price from N890 to N825 per litre—its second cut this month and third in two months.
The move is aimed at easing Nigerians’ financial burden, particularly with Ramadan approaching.
“Nigerians will be able to purchase the high-quality Dangote petrol at the following prices in all our partners’ retail outlets. For MRS Holdings stations, it will sell for N860 per litre in Lagos; N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East respectively.
“The same product will also be available at the following prices in Ardova Petroleum and Heyden stations: N865 per litre in Lagos, N875 per litre in the South-West, N885 per litre in the North, and N895 per litre in the South-South and South-East,” the company said.
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“Dangote Petroleum Refinery has consistently lowered petrol prices to benefit Nigerians. This reduction positively impacts the cost of living and ensures stable supply,” the company stated.
However, fuel importers are struggling to compete, with some expressing concerns about potential losses.
“Dangote may ‘kill’ fuel importers by this continued lowering of prices,” said Chinedu Ukadike, National Publicity Secretary of IPMAN. Another dealer noted, “Though reducing petrol prices is good, it’s taking a toll on our business.”
Despite concerns from importers, industry leaders welcome the price cut. PETROAN President Billy Gillis-Harry called it “a good development,” while Ukadike affirmed, “Wherever the product is cheap, we will buy it.”
Meanwhile, Dangote confirmed it has over 500 million litres of petrol in stock, assuring consistent supply and emphasizing that Nigeria’s fuel needs can now be met locally.
