The Nigerian National Petroleum Company Limited has reduced the pump price of Premium Motor Spirit, also known as petrol, from N935 to N910 per litre in Abuja.
The new pricing, however, is yet to take effect in Lagos and several other cities across the country.
This development comes amid intensifying competition in Nigeria’s petroleum downstream sector, driven largely by recent price movements from Dangote Petroleum Refinery.
Dangote Refinery, which operates the country’s 650,000 barrels-per-day capacity facility, began its latest round of price cuts last weekend, reducing the gantry price of petrol to N825 per litre from N835.
This move follows a previous reduction last month, when the refinery dropped its gantry price from N865 to N835 per litre.
According to Vanguard, the latest price cut is part of an effort by Dangote to deliver greater value to customers while solidifying its growing dominance in the domestic fuel market.
Data from Petroleumprice.ng stated: “With control over more than 50% of Nigeria’s fuel market, Dangote recently dropped its petrol price to ₦825 per litre. While the refinery hasn’t officially announced this, sources say it offers flexible deals to its bulk marketers, who now resell at ₦830 or slightly lower.
“This approach helps Dangote stay ahead of depot owners facing higher overheads.
“Dangote’s model has closed the price gap by ₦10 to ₦15, applying significant pressure on competitors.
“Nigeria’s fuel market is undergoing a transformation. Crude prices play a minimal role, while local strategies now dominate.
“Dangote’s growing market share stems from aggressive pricing and operational efficiency.
“Although consumers benefit in the short term, long-term effects may alter the country’s fuel supply landscape. As the price war continues, Dangote’s influence will likely expand, further straining smaller players.”
