The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of Premium Motor Spirit (PMS), also known as petrol, from ₦935 to ₦910 per litre in Abuja. However, the revised pricing has not yet been implemented in Lagos and other parts of the country.
Meanwhile, Dangote Petroleum Refinery also initiated a price cut over the weekend, lowering its gantry price of petrol to ₦825 per litre from ₦835, as competition intensifies in the domestic market.
This marks the second consecutive reduction by the 650,000 barrels-per-day refinery. Last month, the Dangote refinery had earlier adjusted its price from ₦865 to ₦835 per litre.
According to checks by Vanguard, the latest move is designed to offer more value to consumers and further entrench the refinery’s dominance in Nigeria’s fuel market.
According to Petroleumprice.ng, “With control over more than 50% of Nigeria’s fuel market, Dangote recently dropped its petrol price to ₦825 per litre. While the refinery hasn’t officially announced this, sources say it offers flexible deals to its bulk marketers, who now resell at ₦830 or slightly lower.
“This approach helps Dangote stay ahead of depot owners facing higher overheads.
“Dangote’s model has closed the price gap by ₦10 to ₦15, applying significant pressure on competitors.
“Nigeria’s fuel market is undergoing a transformation. Crude prices play a minimal role, while local strategies now dominate.
“Dangote’s growing market share stems from aggressive pricing and operational efficiency.
“Although consumers benefit in the short term, long-term effects may alter the country’s fuel supply landscape. As the price war continues, Dangote’s influence will likely expand, further straining smaller players.”
Industry analysts note that the ongoing pricing battle reflects a broader transformation in Nigeria’s petroleum market, where local dynamics are increasingly outweighing global crude price trends. Dangote’s expanding market share and operational strategies are likely to shape the future of fuel distribution in Nigeria.