Despite the recent drop in global oil prices, Dangote Refinery’s petrol remains expensive causing many Nigerian marketers to look abroad for cheaper fuel. A report by S&P Global reveals that Dangote’s slight price cuts don’t reflect the deeper plunge seen in international markets.
Global Prices Fall, Local Cuts Lag
Between 1 and 9 April, the international price of petrol dropped nearly 18%. In the same period, Dangote reduced its truck price by only 1.7%, from ₦880 to ₦865 per litre. Analysts say this modest drop has created a gap wide enough to encourage importation.
Marketers Cut Prices to Compete
As of this week, Dangote has further reduced its gantry price to ₦835 and recommended partners sell at ₦890 in Lagos. Prices in other regions are:
- ₦900 in the South-West
- ₦910 in the North-West and North-Central
- ₦920 in the South-East, South-South, and North-East
Independent stations have joined the price war. SGR, with outlets in Ogun State, now sells at ₦878 per litre. Heyden sells for ₦885, and MRS at ₦890. Others still charge up to ₦920.
Dangote’s Big Cut on Hold
Insiders revealed that Aliko Dangote had planned a major petrol price slash for his birthday on 10 April. But the move was delayed after the Federal Government suspended the naira-for-crude oil policy. Now that the policy is back and crude prices are still falling, sources say a significant price cut may come soon.
Imports Surge Amid Price Gap
More petrol is being imported into Nigeria. According to S&P Global, 4 million metric tonnes of fuel are heading to West Africa this month, the highest in two years. From 8 to 16 April alone, Nigeria imported 157 million litres of petrol.
Still, the Nigerian Midstream and Downstream Petroleum Regulatory Authority reported that average daily imports have dropped from 44.6 million litres last August to just 14.7 million litres in April 2025.
Ongoing Legal Battle
Meanwhile, the Dangote refinery remains locked in a court case with Nigeria’s oil regulator over import licences granted to private marketers. The outcome could shape the future of fuel pricing in the country.
As Nigeria’s oil sector evolves and global markets shift, the pressure to make petrol more affordable is mounting both for Dangote and the government.