NewStats: 3,262,974 , 8,178,710 topics. Date: Wednesday, 04 June 2025 at 09:46 AM 5l3bo

Importers of petroleum products have lamented the repeated reduction of petrol prices by the Dangote Petroleum Refinery, The PUNCH reports.

Some of the importers said dealers might be compelled to sell below their cost prices as consumers would only buy from where petrol is cheaper.

On Wednesday, the Dangote refinery announced a reduction in the ex-depot (gantry) price of petrol by N65, from N890 to N825 per litre, effective from today, February 27. This is the second price reduction in the new year, and the third one in a space of two months.

Although the importation of the commodity has dropped, some dealers still import refined petroleum products. This was confirmed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority last week after it stated that about 50 per cent of domestic fuel supply comes from imports.

A statement by the management of the Dangote refinery said the strategic price adjustment is designed to provide essential relief to Nigerians in anticipation of the Ramadan season, while also ing President Bola Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace.

“It is important to note that Dangote Petroleum Refinery has consistently lowered the prices of petrol and other refined petroleum products to the benefit of Nigerians. This marks the second price reduction of PMS in February 2025, following a previous decrease of N60 earlier in the month.

“Additionally, in December 2024, during the yuletide period, the refinery reduced the price of PMS by N70.50, from N970 to N899.50 per litre, as part of its commitment to easing the cost of living and providing relief to Nigerians during the holiday season.

“This reduction has positively impacted the overall cost of living, benefiting various sectors of the economy, and has also ensured that Nigerians did not experience the perennial fuel scarcity and price hikes typically associated with the yuletide season,” the company stated.

It disclosed that Nigerians will now buy at new prices from its partners nationwide, including MRS, Heyden, and Ardova.

“Nigerians will be able to purchase the high-quality Dangote petrol at the following prices in all our partners’ retail outlets. For MRS Holdings stations, it will sell for N860 per litre in Lagos; N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East respectively.

“The same product will also be available at the following prices in Ardova Petroleum and Heyden stations: N865 per litre in Lagos, N875 per litre in the South-West, N885 per litre in the North, and N895 per litre in the South-South and South-East,” the company said.

The refinery assures the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand, and a surplus for export to enhance the country’s foreign exchange earnings.

“The company calls on marketers to this initiative, ensuring that Nigerians remain the primary beneficiaries of this effort. This collective action will contribute to the broader economic recovery plan led by President Bola Tinubu, who is committed to making Nigeria self-sufficient in refined petroleum products and establishing the country as a leading oil export hub,” the statement concluded.

However, as Nigerians rejoice over the price slash, fuel importers seem to be counting the effect this will have on their business.

According to some of them, the Dangote refinery is gradually making importation less attractive with how it has dropped the prices of petrol and diesel lately.

It was gathered that the landing cost of PMS was around N927 a litre in the past week, an amount higher than the ex-depot price of the Dangote.

The importers said they have been managing to sell the imported products with little or no margin due to the need to compete well in the market.

“Some of us who have imported PMS are feeling the heat of Dangote’s decision to slash prices. Though it is a good thing to reduce petrol price, it is taking a toll on our business. That’s the simple truth,” a dealer who spoke to our correspondent in confidence due to the nature of the matter, stated.

Another retailer noted that the Dangote refinery is reducing prices to discourage fuel importation, saying many will have to stop bringing in petroleum products from other countries.

“Dangote understands the competition in the business and this latest reduction will further discourage fuel imports. There will be losses as we may have to drop our prices too. At the end of the day, some of us will source our products locally. I will just advise Dangote to create a level playing field for all,” the retailer stated.

In an interview, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, confirmed that importers may incur losses as a result of the new price reduction.

Ukadike maintained that the price reduction would affect importers, stressing that Dangote was maximising the advantages of deregulation.

“Dangote may ‘kill’ fuel importers by this continued lowering of prices. All those importers who have challenged Dangote that they wanted to import cheaper fuel, as they’re just nearing the sea shore, Dangote will reduce the price and they will run into trouble,” Ukadike stated in his personal opinion.

Speaking on behalf of IPMAN, he described the price slash as a welcome development, saying the association will continue to patronise the refinery.

“It is a welcome development. We laud Dangote’s achievement of bringing the 650,000 single-train refinery to Nigeria. Independent marketers have justified ing the removal of subsidies and ing our local companies. We will continue to patronise Dangote via MRS, and we will do everything possible to them,” he stated.

He pointed out that the availability of petrol is no longer an issue, asking the government to fix the depots and the pipelines.

“Our problem now is distribution, we want all the satellite depots to be in place and the pipelines repaired so that this product can be sent to the nooks and crannies of this country seamlessly. That will also further reduce the price. So, as independent marketers, we welcome the development of the Dangote refinery petrochemical mine. Wherever the product is cheap, we definitely will buy it,” he added.

He posited that the price reduction would reduce marketers’ huge investment, increasing their purchasing power.

“Also, it is giving us a choice of availability. So, we can buy from Dangote, we can also buy from the Nigerian National Petroleum Company Limited,” he maintained.

Similarly, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, Billy Gillis-Harry, also commended Dangote for the new development.

“It is a good development. PETROAN applauds that because Nigerians are going to be better for it. Congratulations to Nigerians,” Gillis-Harry said.

He stressed that environmental and economic factors will determine the price, going forward.

“The price will keep fluctuating, it will not be static. N825 per litre is welcome, and we salute Dangote for that,” he submitted.

Dangote exports fuel

Meanwhile, the Dangote refinery has exported straight-run low-sulphur fuel oil and other feedstock components to Fujairah, a city in the United Arab Emirates.

A report by S&P Global stated that the products were conveyed by a Vlcc-sized cargo. The cargo is expected to arrive in Fujairah this week, the report stated.

Low Sulfur Fuel Oil is obtained through fractional distillation of crude oil. It is commonly used as bunker fuel or for running boilers and furnaces in various industries, including textile and cement manufacturing.

LSFO is also used to power ships that travel in Emission Control Areas where sulphur emissions are limited. It can also be blended to produce other fuel like petrol.

“A VLCC-sized cargo, consisting of straight-run LSFO and other feedstock components, sourced from Nigeria’s Dangote refinery, is expected to arrive in Fujairah in the week, marking the first such replenishment flow since July 2024, according to industry sources,” S&P Global said.

Last year, Singapore, Asia’s oil hub, received its first low-sulphur straight-run fuel oil from the Dangote refinery, marking a new trade flow from the refinery to Asia.

Recently, the Dangote refinery sold two cargoes of aviation fuel to Saudi Aramco, the national oil company of Saudi Arabia.

“We are reaching the ambitious goals we set for ourselves, and I’m pleased to announce that we’ve just sold two cargoes of jet fuel to Saudi Aramco,” said the President of the Dangote Group, Alhaji Aliko Dangote, adding that since its production began in 2024, the refinery has steadily increased its output, now reaching 550,000 barrels per day.

Amid claims that local refineries could not satisfy local needs, Dangote revealed on Saturday that the refinery had over 500 million litres of motor spirit in its tanks, saying it has stocks worth over N600bn.

He boasted that the refinery would meet local demand and export to other countries.

“We can satisfy more than the local needs of Nigeria. As we speak, we have more than half a billion litres (of petrol). We have more than N600bn worth of stocks here today in the refinery. We have more than enough. The refinery is producing enough refined products, like gasoline, diesel, and kerosene, to meet 100 per cent of Nigeria’s requirements,” he stated.

Speaking about fuel quality, Africa’s richest man disclosed that refineries worldwide are shutting down because of the Dangote refinery.

https://punchng.com/importers-fret-as-dangote-lowers-petrol-price-again/

Why are they Fretting? Are they Enemies of Nigeria ? Weldone Dangote

The have every right to wail, the fóolish illîterate federal government should not make things easy for Dangote the thief alone . Without the federal government the thief Dangote is nothing.

Make Dangote open him own Feul Station. And sell at 800 naira

He will be a multi billionaire X2 his current net worth

Honestly this is all crap. Fuel was way cheaper before this bandits took power by force.

They want to console us, 4 years don dey finish. Nobody should fall for this.

Even at 200 naira per liter these guys are still making huge profits.

They should compete with Dangote

Good. Let the reduction continue, till #100. Are the markers mad? Let them go and buy from dangote if the one outside is expensive

Ramadan Kareem.

Importers should go into agriculture ooo



Also, those that own the MALTA BUSINESS.....

Importer should come and explain why they continue to import fuel
I just love what is happening

Those still importing fuel are the real owner of foreign refineries.

They're people that pray for things never to get better in Nigeria

Vicdeus3:
Send me a message on Whatsapp just to complete a task for me and get paid 2k. 08 073 361 006

scam if it's real u won't need to come to nairaland to get enough persons

I assure you if importer finally rest and not import fuel, dangote is going to start selling higher. right now he may be selling at loss to frustrate them.

Once they give up gbam we are in soup.

one thing i know none of their actions is for the love of us

omoredia:
Even at 200 naira per liter these guys are still making huge profits.

You can go ahead and import and sell at 500 naira per litre and make mega profit.

So these importers have always been part of the major problems Nigerians experience

This is why Importation must not be outlawed.

Dangote will lower his prices to run them out of business. Then, once they are out, he increases his astronomically.

He did it in sugar, did it in cement, he's doing it again.

It's the competition they all craved for. Abi what do they think is free market?

omoredia:
Even at 200 naira per liter these guys are still making huge profits.

wrong

Buy from Dangote... Must you import fuel from abroad.... Awon werey....

Interesting time ahead. Competition is good for the consumer. If the importer reduce they price which will directly force Dangote to further reduce its own price, hopefully by August we will be buying PMS at 400hundred per a liter.

The whole idea behind deregulation is competitive pricing. If you can't compete then, stay out the kitchen besides, most of these crooks are importing products under the guise of having a refining license so why don't they want to refine here and make things cheaper ? Thieves

Kudos Dangote. You be OG, let them keep importing even when they lied to us that, ph and warri refineries are fully operational

MadamVanessa:



The have every right to wail, the fóolish illîterate federal government should not make things easy for Dangote the thief alone . Without the federal government the thief Dangote is nothing.

You must be very stupid.

This is exactly how it must be.

I have said it many times on this platform.

If you are sure you can get petrol for less, by all means, import it.

Nobody would spoonfeed you.

Excellent.

Wait ooo!!!

Why is he saying, "Ramadan"

I hope he's not going to increase after that though ...

let's watch and see

iwaeda:


https://punchng.com/importers-fret-as-dangote-lowers-petrol-price-again/

JARGON MONOXIDE : The Corporate Cancer That’s Killing Your Business

There’s a silent killer in your company. It’s not competition, bad hires, or even a broken business model. It’s jargon monoxide—a steady stream of meaningless corporate gibberish that seeps into meetings, emails, and strategy decks, suffocating clear thinking and real action.

You’ve heard it before. The executive who insists “We need to leverage cross-functional synergies to enhance stakeholder engagement.” The consultant who claims “Our approach is to drive transformational outcomes via customer-centric innovations.”

Translation: Nobody knows what the hell they’re talking about.

Jargon monoxide is what happens when people prioritize sounding smart over being smart. It’s corporate carbon monoxide—odorless, invisible, and quietly poisoning your company’s ability to think clearly and execute fast.

How Jargon Monoxide Spreads

It starts with one person trying to sound more competent than they are. Instead of saying “We need to sell more,” they say “We must drive topline revenue expansion by leveraging omnichannel opportunities.”

No one wants to be the idiot who asks, “Wait, what?” so they nod along. Before you know it, every meeting is filled with people saying things like, “We need to optimize synergies to unlock value through scalable innovation.”

It’s a linguistic arms race. The minute one person starts talking like a McKinsey PowerPoint, everyone else has to keep up or risk looking uninformed. The result? A workplace where people talk in loops, meetings take twice as long as they should, and nobody actually does anything.

The Four Flavors of Jargon Monoxide

Jargon monoxide isn’t just one thing—it’s a disease with multiple strains, each more toxic than the last.

First, there’s convoluted crap. This is when a simple idea gets buried under unnecessary complexity. A restaurant owner could say, “We need to serve food faster.” Instead, they say, “We’re optimizing throughput via enhanced queue management solutions.” If your sentence could double as the instruction manual for a nuclear reactor, you’ve lost the plot.

Then, we have meaningless bxxxxxxt—sentences that sound impressive but say absolutely nothing. Think of a tech CEO proudly declaring, “We’re driving a paradigm shift in agile methodologies to disrupt legacy frameworks.” What does that even mean? Nothing. But people still nod as if they just heard the wisdom of Socrates.

Next is in-group lingo—words designed to make outsiders feel stupid. A finance executive might say, “We need to enhance our liquidity position through a more favorable capital structure optimization process.” Translation: “We need more cash.” If a smart person outside your industry wouldn’t understand what you’re saying, you’re not communicating—you’re gatekeeping.

Finally, there’s the jargon blender—when someone just throws together every buzzword they can think of and hopes no one notices. Ever read a company’s mission statement and seen something like, “Our mission is to empower scalable, AI-driven, next-gen solutions to revolutionize the digital ecosystem”? That’s not a strategy. That’s a Mad Libs page from a management consultant’s notebook.

Why Jargon Monoxide is Killing Your Company

This isn’t just annoying. It’s actively making your business worse.

First, it wastes time. If every meeting needs an extra 20 minutes to decode what people are actually saying, your company is moving at half speed.

It also leads to bad decisions. When ideas aren’t clearly explained, nobody can tell the good ones from the bad. If you pitch a project as “a disruptive, game-changing initiative leveraging best-in-class technology,” it sounds amazing. But what are you actually doing? Spending millions on an app nobody needs?

Jargon monoxide also destroys morale. Nobody wants to work at a company where leadership speaks in riddles. People don’t quit companies; they quit bosses who can’t communicate.

And it pushes customers away. If your marketing sounds like a legal contract, customers will go somewhere else. Nobody trusts a company that says, “We offer scalable, AI-powered, cloud-native solutions that revolutionize the digital ecosystem.” They trust the company that says, “We make software that helps you run your business faster.”

How to Kill Jargon Monoxide

The antidote? Call it out.

Next time someone in a meeting says, “We need to align cross-functional synergies,” stop them and ask, “What does that actually mean?” If they can’t explain it in simple , they probably don’t understand it themselves.

Set a rule: no buzzwords without definitions. If someone says, “We need to be more customer-centric,” ask them, “Okay, what does that look like in practice?”

Write like a human. If your emails read like a corporate memo from 1987, rewrite them. Cut the fat—if a sentence can be five words instead of fifteen, make it five.

And most importantly, reward clarity. The best leaders don’t tolerate empty words—they push their teams to think clearly, explain things simply, and focus on real outcomes.

Final Thought: Simplicity is a Superpower

Great companies move fast, and fast companies communicate clearly. Jargon monoxide is a sign of a slow, bureaucratic culture—one that’s more interested in looking smart than being effective.

The best CEOs don’t hide behind complexity. They say what they mean, get to the point, and expect their teams to do the same.

So next time you hear someone say, “We need to unlock synergies through innovative, best-in-class solutions,” take a deep breath and reply:

“Or… could we just get to work.”

Copied.

Dangote is playing a long game

This is a welcome development.

Healthy competition leads to competitive pricing.

Coldspice:
This is why Importation must not be outlawed.

Dangote will lower his prices to run them out of business. Then, once they are out, he increases his astronomically.

He did it in sugar, did it in cement, he's doing it again.

He cannot run you out of business.

If you can get it cheaper, please do.

What's wrong with it?