Petrol Prices Drop Below Dangote’s as Importers Slash Rates.

 Petrol Prices Drop Below Dangote’s as Importers Slash Rates.

Fuel importers have slashed petrol prices below those of Dangote Refinery, intensifying market competition and drawing fresh debate over the future of fuel importation in Nigeria.

Filling stations in Lagos and Ogun are now selling petrol for as low as ₦847 per litre, compared to ₦865–₦875 at outlets affiliated with Dangote, such as MRS and Heyden. Some depots have dropped their prices to ₦815, while Dangote Refinery’s ex-depot price stands at ₦820.

This development comes as Dangote Group President, Aliko Dangote, urged the Federal Government to ban fuel imports to protect local refiners. He accused importers of flooding Nigeria with subsidised or low-quality fuel, particularly products sourced from Russia, which he described as “t+xic” and banned in Europe.

“At these prices, local refiners cannot survive,” he said, warning that d¥mping thr+atens investments and undermines domestic production.However, the Independent Petroleum Marketers Association of Nigeria (IPMAN) disagrees. 

Its spokesperson, Chinedu Ukadike, defended the current competitive pricing, describing it as a positive result of market liberalisation. “This is why we support deregulation. It encourages fair pricing. Banning imports would h¥rt consumers,” he said.

He added that regulatory agencies are in place to prevent the importation of substandard fuel and emphasized that open competition will drive efficiency and affordability. While Dangote calls for protectionist measures under the Nigeria First policy, marketers argue that true market freedom ensures lower prices and stability.

The cl+sh highlights ongoing tensions in Nigeria’s fuel market, as the country navigates between encouraging local refining and maintaining a liberalised economy.