The Dangote Petroleum Refinery has announced another reduction in the ex-depot price of petrol, slashing it by N65 to N825 per litre. While this move is celebrated by consumers, importers of petroleum products have expressed concerns over the impact on their businesses, as the price cuts make importation less attractive and could force dealers to sell below cost prices.
The Dangote Petroleum Refinery has once again reduced the ex-depot price of petrol, this time by N65, bringing the price down to N825 per litre effective from February 27, 2025. This marks the second price reduction in February and the third in two months, following previous cuts of N60 and N70.50 in December 2024.
The refinery’s management stated that the price adjustment aims to provide relief to Nigerians ahead of the Ramadan season and support President Bola Tinubu’s economic recovery policies. “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 said.
Nigerians can now purchase Dangote petrol at partner outlets nationwide, including MRS, Heyden, and Ardova, at prices ranging from N860 to N895 per litre, depending on the region. The refinery also assured the public of consistent supply, with sufficient reserves to meet domestic demand and a surplus for export to boost foreign exchange earnings.
However, the price cuts have left importers of petroleum products lamenting the impact on their businesses. With the landing cost of imported petrol around N927 per litre, higher than Dangote’s ex-depot price, importers are struggling to compete. “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 told *
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