Dangote Petroleum Refinery has cut its ex-depot petrol price by ₦50 to ₦1,075 per litre and suspended its consortium marketing arrangement, opening direct loading to all qualified marketers.
DANGOTE CUTS PETROL PRICE TO ₦1,075, OPENS GANTRY TO ALL MARKETERS
Dangote Petroleum Refinery has cut the ex-depot price of petrol from ₦1,125 to ₦1,075 per litre, a ₦50 reduction expected to trigger another round of price cuts across Nigeria’s downstream market. The refinery also aligned its coastal loading price at ₦1,075 per litre.
The company further suspended its consortium marketing arrangement, allowing all qualified marketers to load petrol directly from its gantry. The affected consortium had included NIPCO/11 Plc, MRS, TotalEnergies, Conoil, AA Rano, AYM Shafa, Rainoil/Eterna, Ardova and NNPC Retail.
According to Vanguard, industry sources say the move is intended to make locally refined petrol more competitive than imports, deepen competition and improve nationwide supply, following declining global crude prices and government calls for local fuel prices to reflect market conditions.
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