On June 30, 2025, Dangote Petroleum Refinery dropped its ex-depot price from ₦880 to ₦840/litre.
The headline: a ₦40 discount. Cue celebrations—except petrol pumps didn’t catch the memo. In Lagos, these retailers clung to the old ₦920–₦935 range; Ogun stations even charged ₦915–₦935. So much for passing savings to consumers.
Why Marketers Are Tight-Lipped On Price Cuts
Marketers cried “Hold up!” explaining they’re stuck with older stock bought at ₦900+/L — meaning they’d hemorrhage ₦60–₦100 per litre if they slashed prices.
That’s not business—it’s masochism. According to PETROAN’s Billy Gillis‑Harry: “If you…bought fuel at 920 Naira…and the price came down to 840…multiply 80 Naira by 45,000 litres…are you going to throw that away?”
Classic: pass the cost, protect profits — at consumers’ expense.
The Monopoly Card & Who’s Really Getting Squeezed
There’s a populist suspicion brewing: marketers are squeezing consumers to protect profit—and regulators are letting them.
Many accuse them of anti-competitive behaviour and refusing to adapt. And it’s working: Dangote might be singing a noble tune, but marketers are still calling the shots.
Meanwhile, some importers are undercutting both Dangote and marketers — selling petrol for around ₦845–₦850 at depots, putting real pressure on price hold-outs.
Who’s Fooling Whom? The Marketing vs. Reality Game
Here’s the hypocrisy: marketers pushed deregulation and subsidy removal, claiming markets will self-adjust.
Yet, now when prices drop, they stall. The result? Nigerians pay ₦920+ while Dangote, NNPC, MRS, regional depots sell for ₦840–₦860.
Nigerians see Die‑hard profiteering—enter social media outrage and Reddit cynicism:
“Clearly the primary cause for the rise in cost is due to asshole marketers and not failing economic policies.”
Makes sense why people are furious.
Could This Be A Smokescreen For Monopolies?
Dangote’s move to supply with 4,000 CNG-powered tankers brings relief—but also monopoly fears.
PETROAN warned: “veiled strategy…could severely undermine independent marketers”. So yes: structured control hides behind “efficiency.”
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At what point does “logistics solution” become “market control”? And whose interest does it serve? The regulators? Consumers? Or the balance sheets of the few?
The Consumer Crisis: No Relief In Sight
Nigerians are stuck in fuel queues from ₦900+ buys, right as depot prices crater to ₦840–₦860. This isn’t just inflation—it’s profiteering.
Dangote’s one thing; marketers blocking consumer relief? That’s scandal.
Marketers Are The Culprits—Time To Call Their Bluff
Dangote cut. Pump didn’t follow. Enough said.
Marketers blame old stock, but delay signals greed over fairness.
Importers and NNPC already offer cheaper rates—marketers are playing gatekeepers.
Consumers pay for monopoly. All while whispers of market control swirl.
So, whatever Dangote’s angle or regulators’ excuses, the real villain is clear: profiteering marketers exploiting deregulation and delaying relief at the pump.
Food for thought: is it market failure—or moral failure?