NNPC Reduces Petrol Pump Price at Its Filling Stations

• The NNPC Limited reduces the pump price for Premium Motor Spirit (PMS) for residents in Abuja
• The new price comes days after Dangote refinery slashed its gantry price of petrol for marketers by 10
• There is an ongoing price competition in the domestic market for petroleum products among different players

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to N910 per litre in Abuja.

The latest change is a drop from N935 pump price, and now means that NNPC now sells at the same rate as Dangote's partners' filling stations in Abuja.

Vanguard reports that the price adjustment has not yet been implemented in Lagos and other cities across Nigeria.

Dangote's partners, Ardova, Mobil, Petrocam, Hyden, Technooiland Matrix have been asked to reduce prices.

Dangote instructed its partners to sell at the following prices:

• Lagos: N890 per litre
• South-West: N900 per litre
• North-West and North-Central: N910 per litre
• South-East, South-South and North-East: N920 per litre

Dangote slashes prices

Earlier, Legit.ng reported that Dangote Petroleum Refinery has begun issuing a N10 per litre rebate to oil marketers who buy at least 2 million litres of its petrol from its facility.

The decision effectively reduces the ex-depot price from N835 to N825 per litre.

While the refinery’s publicly announced ex-depot price remains at N835 per litre, Punch reports that the refund effectively brings the cost down to N825.

A source familiar with the arrangement told reporters:

“Marketers are receiving a rebate after purchase, which allows them to remain competitive on pricing at their retail outlets.”

The discount has enabled downstream marketers buying from the refinery to retail petrol within a lower price band of N827 to N830 per litre.

According to Petroleumprice.ng:

“With control over more than 50% of Nigeria’s fuel market, Dangote recently dropped its petrol price to N825 per litre. While the refinery hasn’t officially announced this, sources say it offers flexible deals to its bulk marketers, who now resell at N830 or slightly lower.

“This approach helps Dangote stay ahead of depot owners facing higher overheads.

“Dangote’s model has closed the price gap by N10 to N15, applying significant pressure on competitors.

“Nigeria’s fuel market is undergoing a transformation. Crude prices play a minimal role, while local strategies now dominate.

“Dangote’s growing market share stems from aggressive pricing and operational efficiency.

“Although consumers benefit in the short term, long-term effects may alter the country’s fuel supply landscape. As the price war continues, Dangote’s influence will likely expand, further straining smaller players.”

4 easy steps to buy Dangote petrol

Earlier, Legit.ng reported that Dangote group announced four easy steps to become a petrol distributor in Nigeria.

The customer would send an email to: groupcommercialops@dangote.com. In response, the customer would receive registration guidelines, a link, and due diligence forms to complete.

Successful applicants would then be issued a Dangote Refinery registration PIN and notified to complete a notarised Non-Disclosure Agreement (NDA) form. Additionally, the customer would receive a distributorship appointment letter confirming their registration.

Proofreading by Kola Muhammed, copy editor at Legit.ng.

Source: Legit.ng