Dangote Fuel Price Cuts Fail to Reach Lagos and Ogun Motorists as Marketers Hold Steady
Fuel marketers in Lagos, Ogun, and other key Nigerian states have not yet passed on recent petrol price reductions announced by the Dangote Petroleum Refinery, leaving motorists paying more than expected. Our checks on Wednesday revealed that most stations in these states continue to sell petrol at an average of N865 per litre, despite the refinery’s recent price cut aimed at easing the burden on consumers.
Among Dangote’s downstream partners, including MRS, Heyden, and Ardova, compliance with the new pricing has been limited. Heyden offered the lowest price at N863 per litre, while other stations maintained rates between N865 and N870 per litre. Marketers explained that they were yet to adjust their pumps because they were still selling older stock purchased at higher prices, promising reductions only once new supplies arrive.
The refinery had announced that starting Monday, September 15, petrol prices would fall following the deployment of over 1,000 compressed natural gas (CNG)-powered trucks for direct fuel distribution. The scheme is designed to reduce the gantry price to N820 per litre, translating to lower retail prices nationwide. Under the new template, motorists in Lagos were expected to pay N841 per litre, while states like Abuja, Rivers, Delta, Edo, and Kwara would see prices at N851 per litre.
The delay in price adjustments has sparked tension among stakeholders. Observers note that some competitors, including the Nigerian National Petroleum Company Limited (NNPC), may be waiting for Dangote’s partners to reduce prices first. The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) criticized Dangote’s strategy, claiming that repeated cuts, while framed as patriotic, often destabilize the market by creating unexpected price shocks for other traders.
Meanwhile, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has confirmed readiness to reduce pump prices once supplied by the new CNG delivery system. IPMAN’s National President, Abubakar Shettima, stated that deliveries have begun in Lagos, Ogun, and Ondo, with prices already decreasing in some stations. Despite marketers’ resistance, Dangote Group President Aliko Dangote remains committed to ensuring affordable fuel for Nigerians, highlighting CNG trucks as a key tool in bypassing supply chain bottlenecks and delivering fairer pricing nationwide.
source: punch