Competition in Nigeria’s petroleum market has intensified as fuel importers lower pump prices below those of the Dangote Petroleum Refinery.
According to findings by The Punch, while Dangote’s partners like MRS and Heyden sold petrol between ₦865 and ₦875 per litre in Lagos and Ogun, independent stations offered even cheaper rates. SGR in Ogun State sold petrol at ₦847 per litre on Tuesday.
Depot prices have also dropped, with Dangote selling at ₦820, while some depots like Aiteo and Menj offered as low as ₦815. In contrast, the NNPC’s ex-depot rate remains at ₦825.
Chinedu Ukadike of IPMAN confirmed the trend, describing it as a result of market liberalisation and cautioning against banning fuel importation. However, Aliko Dangote reiterated calls for import restrictions, citing unfair competition from cheaper, and often substandard, foreign products—especially discounted Russian fuel being dumped in Africa.
Dangote argues that such practices undercut local production and has urged the government to protect domestic refineries under the “Nigeria First” agenda. Marketers, however, maintain that liberalisation benefits consumers and deters monopolistic pricing.
