Petrol importers have begun undercutting the Dangote Petroleum Refinery by offering lower fuel prices, igniting a fresh wave of competition in the Nigerian downstream sector.
Findings by The PUNCH revealed that some filling stations are now selling petrol for less than N860 per litre, below the prices offered by Dangote’s distribution partners such as MRS, Heyden, and others, who retail between N865 and N875 in Lagos and Ogun states.
A station identified as SGR in Ogun State reduced its pump price to N847 per litre on Tuesday. Meanwhile, industry marketers confirmed that importers have dropped their ex-depot petrol prices below Dangote’s benchmark.
As of Tuesday, the Dangote refinery was reportedly selling petrol at N820 per litre, while importers such as Aiteo and Menj offered prices as low as N815 per litre, according to Petroleumprice.ng.
Importers, aiming to stay competitive, are adjusting their pricing strategies amid market pressure. Many had earlier voiced concerns over financial losses due to Dangote’s steady price reductions since the refinery ramped up output.
In response to the ongoing developments, Dangote Group President, Alhaji Aliko Dangote, reiterated calls for the Federal Government to ban fuel importation, a move he argues is critical to protecting local refining and ensuring energy independence.
