NewStats: 3,261,864 , 8,175,395 topics. Date: Friday, 30 May 2025 at 08:04 PM 4i35d

The price war in the downstream oil sector continued on Thursday as the Dangote Petroleum Refinery quietly implemented a price reduction at its loading gantry, reducing the loading cost of its petrol from N825 per litre to N815 per litre.

It was gathered that the new pricing structure introduced on Thursday was met with enthusiasm by oil marketers, who, as a result, opted to by private depot owners and begin sourcing their products directly from the refinery.

This N10 price reduction is also anticipated to prompt a competitive reaction from private fuel depots, which may adjust their prices downward to maintain their market position.

Recall that on Tuesday, The PUNCH exclusively reported that the landing cost of petrol imported into Nigeria dropped to N774.72 per litre, with marketers predicting that the continued price plunge may lead to a reduction in the pump prices of PMS to about N800 per litre

Dealers said the N774.72 per litre landing cost, which factors in various expenses, including shipping, import duties, and exchange rates, was a considerable reduction of N50.28 from the previous N825 per litre offered at the loading gantry of the Dangote Petroleum Refinery.

The situation, according to industry stakeholders, ignited a price war, with retail marketers opting to dump the refinery products for imported products on the basis of lower pricing.

Crude oil is a major component in the production of fuel, so a further reduction in its price would definitely warrant a drop in petrol price, and it is possible to drop to N800 per litre,” the National Publicity Secretary of the Independent Marketers Association of Nigeria, Chief Ukadike Chinedu, stated

But in a fresh effort to control market share, the 650,000 barrels per day capacity refinery reduced its loading cost to N815 per litre on Thursday.

When added to the N10 levy charged by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, this will increase the cost to N825 per litre.

Consequently, private depot owners in Lagos have also reduced their loading costs to N825 per litre from N830 sold earlier this week

A marketer who preferred not to be named due to lack of authorisation to speak to the media, said, “It is true, I sighted the PFI, N815 ex-depot, N825 including NMDPRA N10. Marketers are selling N826– N830.”

Another marketer confirmed the price drop, saying it was influenced by market forces. Efforts to obtain a pro forma invoice issued to marketers by our correspondent were unsuccessful, as the refinery recalled all invoices due to an error on the initially released invoice.

Further checks by our correspondent revealed that private depots have effected a price change to match the price offered by the refinery.

An analysis showed that AA RANO depot left its loading cost price unchanged at N830 per litre. MENJ Depot also left its own at N830. Bovas depot sold its products at N826, WOSBAB gave its customers a price estimate of N831, while AITEO gave a price of N827 from N832 charged earlier this week. Integrated depot sold at N826 and RAINOIL depot sold its products at N831 per litre

Commenting, the IPMAN National Publicity Secretary, Chinedu Ukadike, said, “Yes, there is speculation that the price of imported products is now lower. That is the reason for the price war. It is the beauty of deregulation. Dangote has millions of litres and would not want any external force to take its market share. So it would have forced the price reduction.”

Meanwhile, the landing cost of petrol has increased to N803.35 per litre from N774.82 per litre. This is still cheaper than the ex-depot price of Dangote Refinery’s petrol, according to the Major Energies Marketers Association of Nigeria.

When ed, an official of the Dangote Refinery, who asked not to be quoted, claimed not to be aware of the new price change but asked our correspondent to go ahead with what oil marketers said

We currently don’t have any information about that, but we will try to clarify tomorrow. You can report what marketers told you, but we don’t have any information on that as I talk to you.”

https://punchng.com/again-dangote-lowers-petrol-loading-cost-to-n815-litre/?amp

The excitement and euphoria of being sworn in as Nigeria's president overtook Tinubu’s reasoning, which led him to make that thoughtless statement: 'subsidy is gone.'

That thoughtless statement, followed by the floating of the naira, brought untold hardships on Nigerians, and this country will never recover from it.

Subsidy removal was supposed to be a gradual process, ensuring first that our refineries were operational and implementing measures to mitigate its effects on Nigerians.

There was no justification for the price of petrol to rise from below ₦200 to over ₦1,350 per liter in such a short time.

It was pure wickedness and draconian by the Tinubu regime in the way it handled the subsidy removal and floating of the naira.

If Dangote Refinery and other refineries were operational before the subsidy removal, the price of petrol wouldn't have gone beyond ₦400 per liter, and transportation costs, food prices, goods, and services wouldn’t have skyrocketed to the extent that they have

Jagaban na weyrey.
Now Obidients will understand what it means to let market forces control price.

In a few years we will have more refineries and they will be scrambling for supply, prices will crash.

He truly removed subsidy to protect the future of our children

lonecatt:
as usual waiting years for refineries to come and undo the damages caused by your inefficient buboon .all these Yoruba people and thinking self

Na them be this.....

This donkey thinks anyone who has a different opinion is Yoruba.
Your hate for the Yoruba tribe has ruptured your brain. If we check your location now, you will be in one of the south western states jumping bus to do something evil so you can go back to the village and south Odogwu in December.
Animals

Let the competition continue—Dangote should eliminate all these importers by dropping the price to N650. That way, the importers will have no choice but to buy from him until it becomes cheaper to import.

TheRareGem1:




https://punchng.com/again-dangote-lowers-petrol-loading-cost-to-n815-litre/?amp

let it not revert after salah ooo

this is how it suppose to be , in any sane country, competition among the players, with us the consumer benefiting from it

Good news.

When you buy your Tokunbo Cars 🚘 from Largeman Motors make sure you buy high quality petrol from MRS and AP.

This man can sell petrol for #650 comfortably and still run business but you see grid. Thank God for competition. Let importation and price war continue.

And no more fuel subsidy payments to the cabal!

EXOUSIAng:
Jagaban na weyrey.
Now Obidients will understand what it means to let market forces control price.

In a few years we will have more refineries and they will be scrambling for supply, prices will crash.

He truly removed subsidy to protect the future of our children

Best thing president Tinubu have done since his inauguration is petrol subsidy removal.
Now we got it right.
God bless Nigeria

Honestly NNPC is not enjoying this... These are the benefits of competition... Now imagine if we had more private refineries

No state is owing salaries now I think.

Is there any state owing workers salaries? I'd like to know please.

We have a lot of rich men that can build refinery and compete but the country is not trustworthy. If not for Southern president... Dangote fuel will be for the north and Niger only

Let the war continues

Be quiet middleman with his greed price

largeman4u:
Good news.

When you buy your Tokunbo Cars 🚘 from Largeman Motors make sure you buy high quality petrol from MRS and AP.

Transporters na werey people

EXOUSIAng:
Jagaban na weyrey.
Now Obidients will understand what it means to let market forces control price.

In a few years we will have more refineries and they will be scrambling for supply, prices will crash.

He truly removed subsidy to protect the future of our children

We won’t have more refineries in the future.

The one we have sources majority of its crude from overseas.

In this video, two Criminals were caught after they have succeeded stealing a pot of fish from a patriotic citizen. They were dealt with by a Soldier man. Let's learn from this video because it portrayed our everyday activities.

Note: This is not a real life video, and let's stay away from CRIME. if you see anything, say something. POLICE IS YOUR FRIEND


https://www.youtube.com/watch?v=IjN1Gvdz2Jg

EXOUSIAng:
Jagaban na weyrey.
Now Obidients will understand what it means to let market forces control price.

In a few years we will have more refineries and they will be scrambling for supply, prices will crash.

He truly removed subsidy to protect the future of our children

as usual waiting years for refineries to come and undo the damages caused by your inefficient buboon .all these Yoruba people and thinking self

AsgardKing:
No state is owing salaries now I think.

Is there any state owing workers salaries? I'd like to know please.

Good question, I would like to know too

The beauty of let the market determine the price. This is good for Nigeria, and Nigerians.

Just like the telecoms industry at the beginning.

Market forces have a big role in determining the rise and fall of product sales

further....

lionshare:
Let the competition continue—Dangote should eliminate all these importers by dropping the price to N650. That way, the importers will have no choice but to buy from him until it becomes cheaper to import.

Exactly but for greediness and selfishness he decided to be selling fuel above what is normal.

We all rejoice when is refinery is coming on stream thinking that it will lessen the price because that would have eliminate the overhead land cost but he choose to be selling his fuel above 1k initially. This is part what prompted FG to resume import fuel to break the monopoly and God bless them for it.

Like you said, selling for 650 or less would have discouraged fuel importing totally but his greediness and capitalist intent wouldn't allow him, just want to milk people dry. I pray more refinery or modular refinery come on stream to challenge his Monopoly, that will be absolute better for we masses. Imagine having only MTN as only license telecom carrier, you will agree with me, many wouldn't have be able to afford even Sim card or phone by now. I pray FG get it right in downstream sector also.

TheRareGem1:




https://punchng.com/again-dangote-lowers-petrol-loading-cost-to-n815-litre/?amp

I'm enjoying this...I hope this will bring down the cost of transportation.

Nigeria, a country of the more you look the less you see. It's not yet an uhuru but we hope this is sustainable and not some Lagos APC propaganda gimmicks as usual to deceive the gullibles ahead of 2027



Like I said, I hope it's truly what it is and not their usual political propaganda to deceive their resident ZoneBs online and offline because I no trust someone that confiscated a whole state for 25 years, milking every sector and treasury for his personal gains, such a notorious looter can never bring a true positive transformation without an ulterior motive

lionshare:
Let the competition continue—Dangote should eliminate all these importers by dropping the price to N650. That way, the importers will have no choice but to buy from him until it becomes cheaper to import.

Then when he has succeeded in eliminating them he increases the fule price at will. Just as he has done in the cement industry

Imagine removing #10 and 15# , this people must be sick.

Leonardo4:

Then when he has succeeded in eliminating them he increases the fule price at will. Just as he has done in the cement industry

Thank God, NNPCL is there checkmate him till more refinery is built in the country. I just pray he shouldn't get the chance to lobby FG to implement policy that will favour is monopolistic agenda.

This is a good development

S