Oil Marketers Import More Petroleum Products As Dangote Slashes Fuel Price Again

• The battle for market dominance continues between domestic refineries led by Dangote Refinery and the oil marketers
• In a recent speech last week, Dangote alleged that there were cabals that did not want to see the refinery succeed
• The marketers have thrown a response at that allegation, and imported another 47,000 MT of products to drive home their point

Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.

Amid growing competition from Dangote Refinery, oil marketers are increasing petrol imports in a bid to secure supply and stabilise the market.

Data shows a surge in petroleum cargoes received at the ports in Lagos and Warri, Delta state.

At least five tankers have discharged over 194,000 metric tonnes of petrol, gas oil, and crude oil into high-volume depots at the Lagos and Warri ports.

This should create a sufficient supply ahead of any market volatility and provide some form of stability for the marketers.

Recall that the marketers had complained of losses arising from fluctuations in prices, and price cuts from the major competitor, Dangote refinery.

Meanwhile, oil marketers continue to grapple with competitive pricing issues as the naira depreciates beyond N1,640/$.

In an earlier report, Legit.ng shared a list of filling stations selling below the Dangote official price.

Oil marketers in face-off with Dangote refinery

Dangote has previously accused a cabal of marketers and traders of undermining the success of his $20 billion refinery

The Executive Secretary of the Depot and Petroleum Products Marketers Association of Nigeria(DAPPMAN), Olufemi Adewole, described the allegation as untrue, stating that the marketers only wanted fuel importation to continue to keep their business afloat.

Adewole highlighted that marketers and depot owners have made substantial investments to sustain fuel imports, which are necessary to meet Nigeria’s consumption needs.

He insisted that Dangote refinery cannot meet local consumption needs, hence the reason imports must continue to bridge the gap.

Details of petroleum imports by oil marketers

Channels Television reports that 15,000MT and 10,500MT of Premium Motor Spirit (PMS) berthed at Fatgbems Terminal and Menj Oil in Lagos on May 9, 2025.

In Warri, 7,600MT of Automotive Gas Oil (AGO) and 15,000MT of PMS arrived on the same day at NIPCO Warri and Matrix Energy terminals.

Meanwhile, Dangote Refinery has imported about 136,124 MT of crude oil, and the delivery berthed on May 8, 2025.

The refinery has also been taking crude oil deliveries from several sources, and is expected to receive some from the NNPC since the naira-for-crude deal has been renewed.

Dangote refinery has publicly pledged to deepen collaborations with the Nigerian National Petroleum Company Limited (NNPC Ltd.) to guarantee energy security in Nigeria.

Five oil marketers import over 103,000MT of PMS

Earlier, Legit.ng reported that about five oil marketers imported 103,800 metric tonnes of petrol in the first week of May 2025.

The report showed that Ardova, AA RANO, BOVAS Oil, NIPCO, and Alkanes all imported petrol into Lagos and Calabar ports.

The development comes as Dangote Refinery continues to lead in depot pieces at N837 per litre.

Proofreading by James Ojo, copy editor at Legit.ng.

Source: Legit.ng