Depot Owners Slash Petrol Prices to Compete With Dangote Refinery
- Private depot owners across Nigeria have slashed their ex-depot petrol prices to stay competitive with Dangote Refinery
- The new prices are expected to make the oil sector even more competitive, as filling station owners search for cheaper rates
- This price competition has led filling stations, as well as NNPC retail outlets, to reduce their fuel pump prices
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Private depot owners across Nigeria have slashed their ex-depot petrol prices in a bid to stay competitive with the Dangote Refinery.
The refinery cut its petrol price from N880 to N820 per litre and has kept it steady between the N819 and N821 levels.
Source: Getty Images
Depot owners have slashed petrol prices
New data obtained from Petrolumprice.ng shows that several key depots, including Matrix Warri, A.Y.M Shafa, and Rainoil Delta, reduced their Premium Motor Spirit (PMS) prices by up to N10 per litre in the last 24 hours.
Matrix Warri cut its rate to N840, a reduction of N5. Rainoil Delta made one of the biggest reductions, dropping its prices by N10 to N845.
A.Y.M Shafa, Zamson, and First Fortune depots also reduced prices to N840.
These reductions align depot prices with Dangote’s benchmark of N819 to N821, as buyers and filling station owners seek better margins
Other depots that made changes are Wosbab, Matrix Lagos, and A.A Rano offered rates just over N820, inching closer to Dangote’s figure.
Depots like NIPCO Lagos, AIPEC, and Aiteo are selling at the same rate of N821 as Dangote.
Soroman, Sigmund, and Sahara are selling petrol above N853.
Here are 10 depots with the lowest prices
- Menj: N820
- Wosbab: N820.5
- Matrix Lagos: N820.5
- Dangote: N821
- A.A Rano: N821
- Aipec: N821
- Aiteo: N821
- Fatgbems: N821
- Pinnacle: N821.5
- Rainoil Lagos: N825
Source: Getty Images
Filling stations reduce prices
The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in its petrol pump prices effective Wednesday, July 16, 2025, across select retail stations.
Findings by Legit.ng revealed that in Lagos, NNPCL stations are now dispensing petrol at N865 per litre, while in Abuja, the pump price has dropped to N910 per litre, down from the previous N925, representing a N15 decrease.
The latest adjustment brings NNPCL’s retail prices in line with the rates offered by Dangote Refinery’s partner stations, such as Ardova, MRS, Hyden, among others.
2 filling stations slash fuel price below NNPC rate
Earlier, Legit.ng reported that petrol price competition in Nigeria continues as the Ardova and MRS Filling stations have decided to reduce their pump price.
The rate offered by Ardova and MRS filling stations is now the cheapest currently offered across the country.
Ardova is one of the several independent and major petrol marketers buying directly from the Dangote refinery.
The reduction comes as the Independent Petroleum Marketers Association of Nigeria (IPMAN) plans to reduce petrol prices.
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Source: Legit.ng
