Petrol Prices: Depot Owners Release New Rates Nationwide as Dangote Refinery Sells Cheaper
- MEMAN reports petrol depot prices of N1,323 to N1,349 per litre across Lagos, Warri, Calabar and Port Harcourt
- Dangote Refinery’s N1,210 ex-gantry price is N113 to N139 below the depot rates
- NMDPRA’s stricter import rules and rising price competition could reshape supply, though pump prices depend on logistics and costs
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria’s downstream petroleum market is witnessing fresh competition as depot owners release new petrol prices across major cities, with Dangote Refinery maintaining a significantly lower ex-gantry price.
The latest figures show considerable differences between depot prices in Lagos, Warri, Calabar and Port Harcourt, raising questions about how the widening price gap could affect fuel marketers and motorists.
Source: Getty Images
According to data released by the Major Energy Marketers Association of Nigeria (MEMAN) on October 27, 2026, petrol prices at several depots remain above the rate offered by the Dangote Petroleum Refinery.
The development comes as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) introduces stricter conditions for petroleum product imports, potentially reshaping competition between domestic refiners and fuel importers.
MEMAN releases latest petrol depot prices
The MEMAN report revealed varying Premium Motor Spirit (PMS) prices across Nigeria's major petroleum distribution hubs.
In Lagos, depot prices ranged between N1,323 and N1,340 per litre, reflecting differences in supply arrangements and pricing among operators.
Warri recorded prices between N1,340 and N1,349 per litre, while Calabar depots quoted between N1,335 and N1,340.
Similarly, petrol prices in Port Harcourt ranged from N1,332 to N1,340 per litre.
The figures highlight the regional differences in wholesale petrol pricing, which can influence how much filling stations eventually charge consumers.
However, depot prices do not necessarily translate directly into retail pump prices, as marketers must account for transportation, distribution and other operating expenses.
Dangote Refinery maintains lower petrol prices
Meanwhile, Dangote Refinery has maintained its ex-gantry petrol price at N1,210 per litre, according to MEMAN's latest data.
The price is between N113 and N139 per litre below the reported depot quotations across the four locations.
For marketers purchasing large volumes, the difference could translate into substantial savings before transportation and other distribution costs are considered.
The pricing gap could also strengthen the refinery's appeal to independent marketers seeking cheaper supplies amid persistent competition in Nigeria's petroleum market.
However, the final cost advantage depends on logistics, loading arrangements and delivery destinations.
NMDPRA tightens conditions for petrol imports
The changing market dynamics coincide with the NMDPRA's decision to subject petroleum import applications to greater regulatory scrutiny.
Under the revised approach, marketers seeking permission to import petroleum products must satisfy additional regulatory conditions before obtaining approval.
The policy could influence import volumes and encourage greater reliance on domestic refining capacity, although its impact will depend on implementation and local supply availability.
For import-dependent marketers, the changes may require adjustments to existing procurement strategies.
Source: Getty Images
Petrol marketers face growing price competition
Industry observers believe the differences in depot prices could intensify competition among petroleum suppliers.
Marketers are likely to compare domestic refinery prices with alternative wholesale supplies while considering transportation expenses, product availability and delivery timelines.
For consumers, stronger competition could eventually create opportunities for lower pump prices.
Nevertheless, cheaper ex-gantry petrol does not automatically guarantee immediate reductions at filling stations.
Ultimately, the direction of petrol prices will depend on supply stability, distribution costs, exchange rates and the ability of competing suppliers to sustain attractive wholesale prices.
Marketers release new CNG prices
Legit.ng earlier reported that Nigerian motorists searching for relief from rising transportation costs now have fresh pricing information to consider as petroleum marketers release new rates for compressed natural gas (CNG), an alternative fuel gaining attention across the country.
The latest figures from the Major Energies Marketers Association of Nigeria (MEMAN) show that CNG prices range between N380 and N500 per standard cubic metre (scm), offering motorists another option as concerns over petrol affordability persist.
Source: Legit.ng
