New Petrol Prices: NNPC, Dangote Slash Pump Rates, But South-East and North Still Pay More
- The Nigerian National Petroleum Company Limited (NNPC) and other importers have slashed the prices of Petroleum Motor Spirit (PMS)
- The development was due to the price reduction by the Dangote Refinery, which slashed ex-depot prices to N820 from N850 per litre last week
- However, checks showed that the South-West will pay lower, while the South-East and the North will buy petrol at higher rates
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The Nigerian National Petroleum Company Limited (NNPC) and other marketers have slashed petrol pump prices following the cut in ex-depot prices by the Dangote Refinery.
Petrol now sells for N865 per litre, down from N950 it sold last week, depending on the location.
Source: Getty Images
Ogun and Lagos stations adjust prices
Recent findings show that almost all filling stations in Lagos and Ogun states have cut their prices below N900 to compete with outlets selling Dangote petrol.
Reports say NNPC retail stations slashed petrol prices to N865 per litre in Lagos and N870 in Ogun.
According to a report by Punch, MRS and Ardova, which sell Dangote petrol, reduced their pump prices to N865 and N875 per litre in Ogun and Lagos.
As of Saturday, August 16, 2025, another Dangote partner station, Heyden, sold petrol at N980, Fatgbems at N882, Akiavic at N894, Asharami at N895, Rainoil at N875, and NIPCO at N890.
South-East and North to pay more
The price difference cuts across states, with the North, Southeast, and South-South having higher rates due to logistics.
According to a report, experts have predicted a drop in petrol prices below N900 per litre after the giant Dangote Refinery announced a new ex-depot price of N820 per litre from N850.
The Refinery’s statement, which was signed by the Chief Branding and Communications Officer, Anthony Chiejine, confirmed the price slash.
The refinery disclosed that as part of its commitment to national development, it would ensure a consistent and uninterrupted supply of petroleum products.
Price cuts: Experts explain why
However, experts said that the reduction was due to a fall in global crude price, which saw international benchmarks dip significantly amid sanctions against Russia and OPEC+ planned output increase.
“While the gesture by Dangote Refinery was to help ease consumers’ plight, it is also connected with the fall in crude oil prices.
It will make no sense to still sell petroleum products at high rates, while crude oil sells at low prices,” Osas Igho, a financial analyst, said.
Checks showed that filling stations increased their prices to N900 and above despite the crude oil price slide.
The rise and fall of petrol prices
A prior report by Legit.ng disclosed that NNPC sold petrol at N900 per litre in Ogun and Lagos last week, amid the drop in crude price.
Dangote refinery partners also sold petrol above N900 per litre. They also displayed similar prices earlier in the week along the Lagos-Ibadan Expressway, despite stable crude oil prices and exchange rates.
Meanwhile, Dangote Refinery’s reduction has forced marketers, including the state oil company, NNPC, to slash prices.
Dangote Refinery takes market control
Before Dangote's petrol production last year, NNPC was the sole importer of petrol and also controlled the pricing structure.
Analysts have said that Dangote’s entry into the downstream petroleum sector drastically eased imports, forcing NNPC to cede the role to the mega refinery, which is the only refinery producing PMS in Nigeria.
Last year, petrol prices rose to N1,200 per litre when the NNPC removed subsidies; however, Dangote Refinery’s repeated price cuts have pushed the national oil company out of the import market.
Consumers ask for more cuts
Additionally, petroleum product importers have lamented the losses the incessant price cuts by Dangote have caused them.
Meanwhile, Nigerians have asked the Nigerian government to revert the PMS price to N200 or N500 per litre, stating that it is the only way to benefit from the price cuts.
Source: UGC
“The prices should drop to between N200 and N500, and you’ll see the impact on virtually all sectors of the economy. Selling above N850 per litre is still high, and causing inflation to spike,” a Lagos resident, Favour Samson, stated.
Top 10 petroleum depot owners competing with Dangote Refinery
Legit.ng earlier reported that while Dangote Refinery dominates headlines, the real lifeline of Nigeria’s petroleum supply often rests in the hands of independent depot owners.
These players store, distribute, and move millions of litres of fuel daily, ensuring petrol stations and the economy keep running.
From Lagos harbours to Calabar Free Trade Zones, they compete fiercely for market share, influence, and strategic advantage.
Source: Legit.ng
