Petroleum products marketers in Nigeria have signaled the possibility of another reduction in the pump price of premium motor spirit, raising expectations of relief for motorists across the country.
Industry stakeholders disclosed that petrol prices could fall to around ₦739 per litre nationwide, depending on the next move by Dangote Refinery. This development follows ongoing competition within Nigeria’s downstream oil sector, which has already triggered multiple price adjustments.
Speaking in an exclusive interview, the President of IPMAN, Abubakar Maigandi, explained that the promised direct sales would significantly reduce logistics costs and enable independent marketers to sell petrol at a more affordable rate.
According to information gathered by LMSINT MEDIA, the Nigerian National Petroleum Company Limited (NNPCL) recently adjusted its pump price to ₦815 per litre at its retail outlets in Abuja. This price change occurred amid intense competition among key players in the oil marketing space.
Despite the reduction, the NNPCL price still remains ₦76 higher than the ₦739 per litre currently offered by Dangote Refinery-supported MRS filling stations, highlighting a clear disparity in fuel pricing across the market.
Toward the end of the previous year, Dangote Refinery announced a substantial reduction in its petrol prices as part of a strategy aimed at gaining market dominance and outcompeting rival marketers. This decision effectively sparked a broader price war that has continued into 2026.
While Dangote-backed outlets offer lower prices, several stations—including some operated by major marketers—continue to sell petrol at much higher rates, particularly in Abuja and other urban centers. As a result, the majority of consumers have yet to experience the full benefit of recent price cuts.
Addressing the situation, Maigandi stated that IPMAN members are prepared to cap petrol prices at ₦750 per litre once Dangote Refinery commences direct distribution to independent marketers.
He explained that Dangote had assured marketers that direct supply would begin in January 2026, eliminating the need for middlemen and significantly reducing transportation expenses.
According to Maigandi, once petrol is sold at ₦699 per litre from the refinery, transportation costs—estimated at around ₦15 per litre—would bring the final landing cost to approximately ₦750 per litre at filling stations.
He noted that once direct deliveries begin, fuel queues would ease, supply would stabilize, and marketers would be able to immediately reduce prices at the pump.
Maigandi emphasized that the anticipated development would encourage more marketers to purchase directly from the refinery, resulting in increased competition and further price moderation.
It will be recalled that in December, Dangote Refinery slashed its gantry price from ₦838 to ₦699 per litre, a move that reshaped pricing dynamics across the downstream sector.
Subsequently, Aliko Dangote, President of the 650,000-barrel-per-day refinery, approved a pump price of ₦739 per litre for MRS filling stations nationwide.
However, despite these reductions, the price adjustment has not been uniformly adopted across the sector, with petrol still retailing for as much as ₦900 per litre in parts of Abuja and other regions.
Market watchers believe that the commencement of direct sales to independent marketers could serve as a turning point, potentially closing the existing price gap and extending the benefits of cheaper petrol to a larger segment of the population.
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