Nigerian Marketers Slash Petrol Prices by N24 per Litre

On September 23, 2026, Nigerian petroleum marketers implemented a reduction in depot prices by as much as N24 per litre to compete with the Dangote Petroleum Refinery. The adjustments were noted across major depots in Lagos, Calabar, and Warri, with Ascon, Integrated, and Sahara lowering their prices from N1,351 to N1,327 per litre, and Pinnacle reducing its price from N1,350 to N1,326 per litre.

MRS also cut its price by N20 to N1,332 from N1,352. The Dangote Petroleum Refinery maintained its price at N1,325 per litre.

Smaller reductions were observed in Port Harcourt, where Ascon and Integrated reduced their prices by N5 each. The adjustments reflect a narrowing price gap between the refinery and competing depots, driven by a decline in international crude oil prices and heightened competition.

However, operators cautioned that it may take time for these reductions to be reflected at filling stations due to retailers holding previously purchased stocks.