Petrol Import Costs Drop Below Dangote Refinery Price in Nigeria

The article discusses how petrol import costs in Nigeria have fallen below the price set by Dangote Refinery, leading to adjustments in local petrol prices. Dangote Refinery raised its pump price to N699-N799 per liter, making locally refined petrol 70 naira more expensive than imported products.

The refinery attributed the price change to a modest realignment after the festive season and temporary price reductions to ease financial pressures during the holidays. The Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) data showed a decline in petrol imports, with Dangote Refinery's supply increasing within the same period.

Nigeria Petroan warned stakeholders to ensure fair competition and avoid market dominance by Dangote. The refinery reaffirmed its commitment to market stability and uninterrupted nationwide petrol supply.