The Nigerian National Petroleum Company Limited (NNPC) and other fuel marketers have reduced petrol prices following Dangote Petroleum Refinery’s cut in ex-depot prices. As of Friday, petrol sells for as low as N865 per litre, depending on the location. This price drop comes after Dangote Refinery reduced its ex-depot rate from N850 to N820 per litre, effective August 12, 2025. The move is part of the refinery’s commitment to national development and ensuring a consistent supply of petroleum products.
Checks revealed that almost all filling stations in Lagos and Ogun have dropped prices below N900 to remain competitive. NNPC retail outlets have cut PMS prices to N865 in Lagos and N870 in Ogun. Dangote partners, including MRS and Ardova, reduced prices to N865 and N875 per litre in Lagos and Ogun, respectively. Other marketers, such as Heyden, Fatgbems, Akiavic, Asharami, Rainoil, and NIPCO, have also adjusted their prices, ranging from N882 to N895 per litre. Price variations extend across states, with the North, South-East, and South-South recording higher rates due to distance.
The price reduction has brought relief to motorists and consumers who have been struggling with high fuel costs. However, some Nigerians believe that petrol prices should return to between N200 and N500 per litre to have a significant impact on the economy. According to Favour Samson, a Lagos resident, “The prices should drop to between N200 and N500, and you’ll see the impact on virtually all sectors of the economy. Selling above N850 per litre is still high and causing inflation to spike.”
The Dangote Refinery has reaffirmed its commitment to national development and ensuring a consistent supply of petroleum products. The refinery has implemented repeated price cuts since commencing operations earlier this year, bringing prices down from around N1,200 per litre. The company has also announced plans to deploy 4,000 Compressed Natural Gas (CNG)-powered trucks for fuel distribution across Nigeria, starting August 15, 2025.
The reduction in petrol prices is expected to provide relief to consumers and stimulate economic activity. As the Dangote Refinery continues to play a key role in Nigeria’s fuel supply chain, its pricing decisions will have a significant impact on the economy. With the refinery’s commitment to national development and sustainable energy solutions, Nigerians can expect more stable and affordable fuel prices in the future.
