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The battle for dominance in Nigeria’s fuel market intensified as the Nigerian National Petroleum Company Limited (NNPCL) unveiled a sharp reduction in the price of Premium Motor Spirit (PMS) to N860 per litre, escalating its rivalry with the formidable Dangote Refinery in a contest that promises to reshape the nation’s energy ecocystem.
The Nigerian National Petroleum Company Limited (NNPCL) unveiled its price reduction mere days after Dangote Petroleum Refinery & Petrochemicals disclosed plans to absorb a N16 billion shortfall, offsetting N65 per litre for marketers to deliver more affordable fuel to Nigeria’s populace—a rapid counterstroke in an escalating market duel.
In a declaration released over the weekend of March 1-2, 2025, Dangote outlined its commitment to reimburse consumers who procure Premium Motor Spirit (PMS) at inflated rates exceeding the stipulated tariffs through its principal collaborators—Ardova Plc (AP), Heyden, or MRS—spanning the nation’s fuel distribution network.
This initiative succeeds the refinery’s adjustment of its ex-depot rate, trimming it from N890 per litre to N825 per litre, a recalibration that underscores its proactive stance in the pricing arena.
Dangote articulated that this endeavor forms a vital strand of its sustained mission to prioritize Nigerian citizens as the chief recipients of cost relief, harmonizing with President Bola Tinubu’s Renewed Hope Agenda, which seeks to invigorate the national economy through targeted interventions.
Read also: Dangote Initiated Reduction Of Petrol Price To ₦860/litre
“The step, effective February 27, 2025, guarantees that none of our valued business partners will experience a loss due to the price change. More importantly, it ensures that the new, lower rate takes immediate effect nationwide for the benefit of the Nigerian people,” the statement said.
In a swift move, however, the NNPCL also reduced its pump price to ₦860 per litre across its stations in Lagos state on Monday, sparking the continuing price war between the state oil company and independent oil marketers.
Petroleum marketers, in discussions with journalists on Monday, March 3, 2025, acknowledged the Nigerian National Petroleum Company Limited’s (NNPCL) price adjustment, though they noted that the state-owned entity has yet to dispatch formal notification outlining the revised tariff—a delay stirring murmurs in the industry.
Presently, the Dangote Petroleum Refinery & Petrochemicals and NNPCL’s Port Harcourt facility stand as Nigeria’s sole producers of petrol, anchoring the nation’s domestic fuel supply with their operational might.
Nevertheless, NNPCL recently disclosed that it continues to procure petrol from the Dangote refinery to stock its Lagos outlets, having abstained from importing any fuel throughout 2025.
