The Dangote Petroleum Refinery has announced a fresh reduction of N15 in the pump price of Premium Motor Spirit (petrol) across the country.
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Reacting to Dangote Refinery’s fresh fuel price drop the Independent Petroleum Marketers Association (IPMAN) said it was aimed at controlling the country’s petroleum downstream sector and it presented a gain-loss scenario for sellers.
This would be its second fuel price cut since April, after the Federal Government reinstated its commitment to the Naira-for-crude deal.
According to Dangote Refinery’s fresh price template, its retail partners, such as MRS, Ardova PLC, Optima, and others, would sell petrol between N875 and N905 per litre, from N890 to N920 nationwide announced in April 2025.
Spokesperson of IPMAN, Chinedu Ukadike, said Dangote Refinery owner, Aliko Dangote, was using the fuel price war to take control of the buying and distribution of petroleum products in Nigeria.
According to him, Dangote has shown the capacity to rattle fuel importers in Nigeria.
He, however, said that petroleum marketers have been left with a lose-win situation following the price fluctuation.
He added marketers may have to lose between N20 and 25 per litre if they are to revert to the latest price reduction.
Ukadike said: “Dangote wants to use fuel price drops to tell Nigerians who his master is in the business downstream. The downstream petroleum market is very competitive. He has decided to use the price war to ensure he holds firm on the buying and distribution of petroleum products in Nigeria.
“The price war has started, and importers should gear up to see if they can get the products cheaper than Dangote Refinery’s offer.
“For us, the independent marketers, it is a lose-win situation.
“The loss is that those who have already gotten petrol products from Dangote Refinery or its partnership will have to lose a N20 to N25 margin per litre and revert to the new price. Well, I also know that the indices of the market would be able to allow us to sell out our old stock for balance of trade.”
