Petrol prices across Nigeria may soon fall further as independent fuel marketers signal fresh cuts, pending the commencement of direct fuel supply from the Dangote Refinery.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) revealed that its members are expecting to access petrol directly from the refinery at a significantly reduced rate, a move that could bring pump prices down to around ₦750 per litre nationwide.
According to IPMAN leadership, Dangote Refinery has assured marketers that direct sales to independent filling stations will begin this January. The proposed ex-refinery price of ₦699 per litre, when combined with logistics costs, is expected to translate to a retail price of roughly ₦750.
This development comes amid an intensifying price battle in Nigeria’s downstream oil sector. Recently, the Nigerian National Petroleum Company Limited (NNPCL) adjusted its pump price to ₦815 per litre in Abuja, while Dangote-backed MRS stations have been selling at ₦739 per litre.
Despite these reductions, petrol prices still vary widely across the country, with some outlets reportedly selling as high as ₦900 per litre. The sharp disparity has meant that many Nigerians are yet to feel the impact of the ongoing price cuts.
IPMAN believes direct access to Dangote’s supply will narrow this gap, eliminate unnecessary middlemen costs, and stabilize fuel distribution. Once deliveries begin, marketers say queues will ease and competition will force prices down across board.
The Dangote Refinery had earlier slashed its gantry price from ₦838 to ₦699 per litre, a move that reshaped pricing dynamics in the market and triggered competitive adjustments by other players.
If direct distribution proceeds as promised, industry watchers say Nigerians could finally experience more uniform and affordable petrol prices in the coming weeks.