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A fierce price war has intensified in Nigeria’s downstream petroleum sector as fuel marketers across Lagos and Ogun states slash petrol pump prices by up to ₦100 per litre to remain competitive.
The development follows the decision by more MRS filling stations to sell Premium Motor Spirit (PMS) produced by the Dangote Petroleum Refinery at ₦739 per litre. As motorists increasingly boycott stations selling at higher prices, rival marketers have been forced to cut prices—often below their cost price—underscoring the severity of the competition.
Dangote Refinery’s Price Cut Shakes the Market
The price battle began last week when the Dangote refinery shocked depot owners and fuel marketers by reducing its gantry price by ₦129, from ₦828 to ₦699 per litre.
Speaking at a recent press briefing, President of the Dangote Group, Aliko Dangote, said he had received reports that some marketers planned to keep pump prices high despite the reduction. He vowed to enforce the new pricing regime.
From last Tuesday, MRS filling stations began selling petrol at ₦739 per litre in Lagos, with plans to extend the initiative nationwide.
“That ₦970 per litre will no longer be seen,” Dangote said.
“We have invited IPMAN members and anyone who can buy 10 trucks to come and purchase at ₦699 per litre. We will use every resource available to bring prices down.”
He added that for December and January, the refinery aims to ensure petrol is sold for no more than ₦740 per litre nationwide, warning that any attempt to keep prices artificially high would be resisted.
Marketers Respond as Pump Prices Fall
Checks conducted on Sunday showed that several filling stations had already adjusted their pump prices to retain customers. From levels above ₦900 per litre last week, many outlets are now selling petrol for below ₦800 per litre.
While MRS and other low-priced stations recorded heavy patronage, outlets that maintained higher prices struggled to attract customers.
A major oil marketer, who spoke on condition of anonymity, said the widespread presence of MRS outlets had shifted consumer behaviour.
“There is almost always an MRS station in every neighbourhood, giving motorists the option to bypass other stations and buy cheaper Dangote petrol. This is a major concern for traders nationwide,” the marketer said.
Current Pump Prices
As of Sunday, several stations had revised their pump prices downward:
- SGR Filling Station (Ogun State): ₦750 per litre
- Petrocam, Mowe: ₦785 per litre
- MRS (opposite RCCG Camp Ground): ₦739 per litre
These stations were previously selling close to ₦900 per litre but have reduced prices to stay competitive.
Industry observers say the price war could intensify further in the coming weeks as motorists continue to favour cheaper fuel options.
