Petrol importers in Nigeria have slashed pump prices below those offered by the Dangote Petroleum Refinery, intensifying competition in the downstream sector. This development follows fresh calls by Dangote Group President, Alhaji Aliko Dangote, urging the Federal Government to halt fuel imports.
Investigations revealed that several filling stations now sell petrol for less than ₦860 per litre, undercutting Dangote’s partners like MRS and Heyden, which sell at ₦865–₦875 in Lagos and Ogun States. One Ogun State station, SGR, priced petrol at ₦847 per litre as of Tuesday.
Report indicates that many importers now offer ex-depot prices lower than Dangote’s. While Dangote’s refinery sells at ₦820 per litre, some depots, including Aiteo and Menj, have dropped prices to ₦815 per litre.
Importers, striving to stay afloat amidst Dangote’s pricing strategy, have now turned to aggressive price cuts after previously lamenting losses since the refinery ramped up output and slashed prices earlier this year.
Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the ongoing price adjustments, stating, “Depot owners are reducing prices—some to ₦815, others to ₦817, while Dangote remains at ₦820, and NNPC is at ₦825.”
Ukadike praised the liberalised market, urging President Bola Tinubu to resist Dangote’s call for an import ban. He emphasized that open competition ensures fair pricing and local refining remains vital for price stability.
On allegations of substandard fuel imports, Ukadike noted that regulatory agencies are empowered to enforce quality standards.
Meanwhile, Dangote has criticized the importers’ actions, labeling them as “unfair competition” that threatens local refining and future investment. He called on African governments to adopt protective measures, similar to those in the U.S., Canada, and the EU, to shield domestic producers.
Dangote insists the ‘Nigeria First’ policy should extend to petroleum products, arguing that the influx of cheap, often toxic, imported fuel undermines local production. He accused some importers of bringing in subsidised fuel and crude from Russia, further distorting the market and pushing local refiners to sell below cost.
“Cheap Russian petroleum products, often banned in Europe, are flooding Africa, damaging local markets,” Dangote said, calling for policy intervention to prevent “dumping” and sustain local refineries.
However, many marketers oppose any import ban, warning that such a move would stifle competition and hurt consumers. They insist that market liberalisation is delivering benefits and should be preserved.
