Petrol Still Sells at ₦865 Despite Dangote’s Free Delivery Offer and ₦820 Supply Price
Despite Dangote Refinery’s effort to ease fuel prices nationwide by supplying petrol at ₦820 per litre without delivery costs, major oil marketers have yet to reduce pump prices. Checks across Lagos and Ogun States over the weekend revealed that stations owned by Heyden, AP, MRS, Ardova, and others continue to sell at an average of ₦865 per litre. Only a few MRS outlets in Lagos, such as the Alapere branch, slightly lowered prices to ₦841 per litre, drawing long queues from motorists seeking relief.
The Dangote Refinery had earlier announced a logistics-free distribution scheme powered by over 1,000 Compressed Natural Gas (CNG) trucks to cut nationwide fuel costs. Under the new pricing framework, motorists in Lagos and the South-West were expected to buy petrol at ₦841 per litre, while those in Abuja, Rivers, and Delta were projected to pay ₦851 per litre. However, nearly three weeks after the rollout, most filling stations are still selling at old rates despite receiving new, cheaper supplies.
Some marketers claimed the unchanged prices were due to old stock bought at higher costs, promising adjustments once new supplies filled their tanks. But a Dangote Refinery official who spoke on condition of anonymity insisted that several marketers had already received cheaper consignments and had no justification for maintaining higher prices. “It’s unfair to keep selling at old rates when they’re now receiving products at ₦820 per litre with free logistics,” the source said, noting that the refinery could not legally enforce pump prices.
Meanwhile, the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) criticised Dangote’s frequent price cuts, saying they destabilise the market and harm other players. DAPPMAN Executive Secretary, Olufemi Adewole, argued that the refinery’s price adjustments, though seemingly patriotic, often disrupt competition and create financial strain for importers and domestic distributors still managing older inventory. “These cuts create price shocks that distort the market,” he said.
With the Dangote Refinery now acting as Nigeria’s main price trendsetter, effectively replacing the Nigerian National Petroleum Company Limited (NNPCL), fuel price dynamics have shifted dramatically over the past year. NNPCL spokesperson Andy Odeh confirmed that the company had not adjusted its rates, saying, “Our current pump price in Lagos remains ₦865.” Independent marketers who earlier pledged to reduce prices once they began receiving Dangote supplies have yet to follow through, leaving motorists frustrated as expected fuel relief remains elusive.
source: punch