Fuel marketers in Lagos, Ogun, and other key states have not adjusted pump prices to reflect the new rates announced by the Dangote Petroleum Refinery, leaving motorists paying higher-than-expected amounts.
A market survey conducted on Wednesday by Punch, revealed that most filling stations in Lagos and Ogun continued to sell petrol at an average of ₦865 per litre, even though the refinery announced a price reduction last week.
Among Dangote’s downstream partners—MRS, Heyden, and Ardova—none had fully implemented the new pricing. Heyden recorded the lowest at ₦863 per litre, while others sold between ₦865 and ₦870.
Earlier, the refinery disclosed that from September 15, pump prices would decline following the deployment of over 1,000 compressed natural gas-powered trucks to ease direct fuel distribution nationwide.
The new scheme was expected to cut the gantry price to ₦820 per litre, with motorists in Lagos and nearby states paying ₦841, and those in Abuja, Rivers, Delta, Edo, and Kwara paying ₦851.
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Some marketers said they were yet to adopt the new rates because they still held old inventory purchased at higher costs. They explained that adjustments would only follow once new supplies were delivered.
The standoff has also affected other traders, including the Nigerian National Petroleum Company Limited (NNPC Ltd.), which has not reviewed its prices.
NNPC spokesperson Andy Odeh confirmed: “Our current pump price in Lagos remains ₦865. We have not made any changes to the price” .
For over a year, the Dangote refinery has largely dictated market prices, a role previously dominated by the NNPC.
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) criticised the frequent price cuts, describing them as destabilising.
Executive Secretary Olufemi Adewole argued that the timing of Dangote’s reductions often disrupted the market when importers already had cargoes in transit or storage.
Meanwhile, data from Petroleumprice.com on Tuesday placed Dangote’s ex-depot price at ₦824 per litre, the lowest in the market.
Competitors sold higher—Integrated Oil at ₦836, Aiteo at ₦835, Pinnacle, RainOil, and First Royal at ₦840, Soroman at ₦849, and Emadeb at ₦873.
The Independent Petroleum Marketers Association of Nigeria (IPMAN), however, expressed willingness to adjust prices once they receive Dangote’s new deliveries.
National President Abubakar Shettima confirmed that independent marketers in Lagos, Ogun, and Ondo have begun receiving CNG-truck supplies. “Wherever Dangote discharges, all the independent marketers will follow with a change in price,” he said.
Despite resistance, Dangote Group President Aliko Dangote has reiterated his commitment to making fuel affordable for Nigerians.
The rollout of CNG-powered trucks is seen as part of efforts to bypass distribution bottlenecks and stabilize retail pricing.
For now, however, the gap between refinery-announced cuts and actual pump prices remains a concern for motorists, with growing pressure on marketers and regulators to ensure consumers benefit from the reductions.
Image Credit: Businessday
