Private Depot Owners Compete With Dangote, Announce New Petrol Price To Increase Sales
- Competition for customers continues as private depot owners challenge the Dangote Refinery with new petrol pricing
- Many depot owners now sell petrol below Dangote’s rates, making their prices more attractive to customers
- The Dangote Refinery remains instrumental in shaping petrol prices at filling stations across Nigeria
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 adjusted petrol prices aimed at boosting sales, taking advantage of Dangote refinery, which raised its ex-depot price of Premium Motor Spirit (PMS) by N100.
Legit.ng recently reported that the refinery raised its petrol ex-gantry price from N699 per litre to N799 per litre.
Source: Getty Images
The adjustment followed an earlier N129 price cut in December, when Dangote reduced PMS prices from N828 to N699 per litre.
Why depots are selling more
Petroluemprice.ng reports that marketers say confidence weakened after the refinery asked customers who bought PMS at N699 to pay the N100 difference following the price increase.
Since then, private depots have stepped in with slightly lower prices, attracting buyers seeking cost savings and shorter haulage distances.
A marketer was quoted as saying:
“Dangote refinery is now deserted. It is dry. “People now prefer to deal with private depots because of the distance and the price difference.”
New petrol prices at Dangote refinery
As of February 3, 2026, private depots were offering competitive PMS prices across major supply centres.
In Lagos, some depots priced petrol below N800 per litre, with Aiteo selling at N797, while Wosbab and Shellplux offered PMS at N798, lower than Dangote’s petrol price of N799.
In Warri, several depots, including Danmarna, Optima, Nepal and Salbas, priced PMS at N817 per litre.
In Port Harcourt and Calabar, the lowest observed prices stood at N830 per litre, offered by Masters and Alkanes respectively, which is lower than the previous average rate of N850.
The pricing strategy has reduced the incentive for marketers to travel long distances to lift products from the Dangote Refinery.
As a result, depots in Lagos, Warri, Port Harcourt and Calabar are recording renewed activity, signalling a decentralisation of petrol supply.
Source: Getty Images
Diesel market dynamics
A similar trend is evident in the diesel, or Automotive Gas Oil (AGO), market.
Earlier in the year, some private depots sold diesel below Dangote’s ex-depot price, with transactions reported around N908 to N909 per litre.
Although AGO prices across private depots are now broadly aligned with Dangote’s levels, supply is no longer concentrated at a single source, the report added.
Instead, marketers are spreading lifting across multiple depots to benefit from pricing flexibility and reduced logistics costs.
NNPC new petrol price
Earlier, Legit.ng reported that the Nigerian National Petroleum Corporation (NNPC) Limited again raised the pump price of petrol, just 48 hours after the initial increase.
A survey showed that petrol price, which recently increased to N835 per litre in Lagos, jumped by N57 to N892 in some filling stations in Lagos.
NNPC’s latest price increase means it is now selling petrol at N53 above the rate offered by Dangote Refinery partners such as MRS.
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Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
