Depot Owners, Dangote Refinery Reduces Petrol Prices

• Dangote petroluem refinery and also private depot owners have reduced the cost of petrol products
• The price change comes in the wake of Dangote refinery's decision to slash its retail prices for its partners
• The price changes further intensify the price competition among Depot owners and Dangote refinery

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

Depot owners in Lagos have reduced the price of Premium Motor Spirit (PMS), commonly known as petrol.

The price changes give little hope for lower petrol prices at filling stations.

As of Monday, May 26, 2025, the average price of petrol declined marginally at several terminals, petroleumprice.ng reports.

The Dangote Petroluem Refinery also reduced its petrol price on Monday.

Here is a snapshot of prices on Monday

According to the latest price updates, Dangote Refinery reduced its pump price from N828 to N827 per litre, for marketers while Eternal Oil adjusted its rate from N832 to N830.

NIPCO also cut its price from N838 to N837, and both AA Rano and Menj reviewed their prices downward from N831 to N830 per litre.

There were also changes for the Automotive Gas Oil (AGO) segment, also known as diesel, with varied price changes across terminals.

Chipet reduced diesel price from N917 to N916, Menj from N917 to N915, while Ibeto increased slightly from N917 to N918.

Dangote maintained its price at N925, Integrated rose from N917 to N919, and Nipco saw a significant drop from N940 to N915.

Here are retail prices of Dangote refinery partners

Dangote Petroleum Refinery recently reduced the retail fuel petrol price of its partners' filling stations, which include MRS, Ardova Plc (AP), Heyden, Optima Energy, TechnoOil, and Hyde.

Here are the new changes

• Lagos: N875
• South-West: N885
• North-East: N905
• North-West & Central: N895
• South-South: N905

Steps to become a distributor

Dangote released steps for Nigerians looking to become partners with its refinery as petroleum product distributors.

According to the Dangote Group, businesses and individuals must follow a simple four-step process to become official distributors of its petroleum products across Nigeria.

In a statement, the company said the first step is to initiate the process by sending an email to groupcommercialops@dangote.com to express interest in distributorship.

Dangote Refinery stated that upon successful contact, prospective distributors will proceed to the registration stage, where they will be issued a Dangote Refinery registration PIN.

Dangote denies marketers claim of monopoly

Earlier, Legit.ng reported that Dangote Refinery has refuted claims by depot owners that the refinery cannot meet Nigeria’s domestic fuel demand

The refinery officials disclosed that the plant has sufficient fuel to meet domestic supply needs and for exports

Depot owners had accused the Dangote Refinery of trying to monopolise the local market by embarking on petrol price cuts

Olufemi Adewole, DAPPMAN’s executive secretary, disclosed that despite the refinery’s size, it has not met the demands of the local market, saying private depot owners continue to meet the needs of the domestic fuel market by importation.

Source: Legit.ng