Petrol prices drop as NNPCL, Dangote Refinery intensify competition

The competition between NNPCL and Dangote Refinery over petroleum prices has intensified, with both companies lowering their pump prices.

Investigation by SentinelNewsNG.com on Thursday revealed that some NNPCL retail outlets in Lagos have reduced their pump price from N925 to N910 per litre, while retail stations associated with Dangote Refinery have slashed their price to N900 per litre from the previous N920.

However, Dangote Refinery on Wednesday officially announced a reduction in the gantry price of petrol, bringing it down from N865 to N835.

This adjustment takes effect on Wednesday, April 16, 2025, and represents the company’s second price reduction within a week.

In a statement by the group’s chief branding and communications officer, Anthony Chiejina, the new petrol price will be accessible at all partner retail outlets.

They include MRS, AP (Ardova), Heyden, Optima Energy, Hyde and Techno Oil, which will offer petrol at N890 per litre, down from N920 in Lagos.

In the South-West, the price will be N900 per litre, reduced from N930, while in the North-West and North-Central, the price will be N910 per litre, lowered from N940.

In the South-East, South-South, and North-East, the price will be N920 per litre, down from N950.

These price reductions, Chiejina, said reaffirms the company’s commitment to providing high-quality petrol at affordable rates, benefiting consumers across the nation.

In addition, the refinery said it is working collaboratively with its partners to ensure equitable reflection of this price reduction.

Dangote Petroleum Refinery has consistently worked to reduce the prices of petrol and other refined petroleum products, ensuring the continued benefit of Nigerian consumers.

In February, the refinery reduced prices twice by N125. In addition, products such as diesel and Liquefied Petroleum Gas (LPG) have also experienced significant price reductions due to the refinery’s sustained effort.

The refinery anticipates that this latest reduction in PMS prices will generate a positive ripple effect throughout various sectors of the economy, providing much-needed relief to consumers and contributing to broader economic growth, particularly during the Easter season.

Chiejina said Dangote Petroleum Refinery remains steadfast in its commitment to ensuring a steady supply of premium-quality petroleum products, with sufficient reserves to meet domestic demand, along with a surplus for export.

This strategy is designed to support the stability of the domestic market while also contributing to the growth of Nigeria’s foreign exchange reserves.

Furthermore, Dangote Petroleum Refinery calls on industry stakeholders, including marketers and distributors, to continue sourcing their products from the refinery, ensuring that the benefits of these price reductions are fully realised across the country.

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