Nigerian Marketers Unveil Petrol Price N77 Cheaper Than Dangote's Amid Industry Competition

Marketers in Nigeria have introduced a new petrol price that is N77 per litre cheaper than the rate offered by Dangote Refinery. The Major Oil Marketing Association of Nigeria (MOMAN) released data showing that the average import cost of petrol stands at N721.80 per litre, notably lower than Dangote's price of N799 per litre.

Despite Dangote Refinery claiming that locally refined petrol is cheaper when logistics are properly managed, the market currently favors lower-cost imports. The disparity between import costs and pump prices highlights inefficiencies in the supply chain, including transportation, storage, and distribution margins.

The Nigerian National Petroleum Corporation Limited (NNPC) and other major players like Ranoil, AA Rano, AP, Mobil, and Emedab have maintained prices above Dangote's. The ongoing competition in the industry may lead to relief for consumers as marketers adjust their pricing strategies.