A quiet shift in Nigeria’s fuel market unfolded on Thursday as Dangote Refinery reduced its petrol loading price to ₦815 per litre, marking its third price cut of 2025.
The adjustment, though subtle, sent oil marketers scrambling to secure supplies directly from the refinery, bypassing private depots.
Marketers Shift To Dangote Refinery
Following this adjustment, oil marketers quickly shifted away from private depots and began sourcing directly from the refinery.
As a result, private fuel depot owners may soon lower their prices to remain competitive in the market.
Pump Prices May Drop Further
Earlier in the week, the landing cost of imported petrol had dropped to ₦774.72 per litre, prompting analysts to predict that pump prices could soon fall to ₦800 per litre.
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Since retailers have historically favoured importation due to costs associated with shipping, import duties, and exchange rate fluctuations, Dangote’s continued price cuts could soon alter this trend.
Depots Adjust Prices To Compete
In response, fuel depots in Lagos have already adjusted their selling prices, now ranging between ₦820 and ₦839 per litre, to align with the refinery’s new pricing structure.
What’s Next For The Market?
As competition in the sector intensifies, industry players are watching closely.
If private depot owners want to maintain their market share, they will need to either follow Dangote’s lead with further price reductions or risk losing customers to the refinery’s aggressive pricing strategy.
