Nigerian petroleum products marketers have announced a plan to further cut the price of premium motor spirit near N739 per liter nationwide.
The Independent Petroleum Marketers Association of Nigeria said its members have been promised direct fuel sales by Dangote Refinery at N699 per liter in January 2025.
The president of IPMAN, Abubakar Maigandi, disclosed this to Bellnews on Monday in an exclusive interview.
Bellnews reports that the Nigerian National Petroleum Company Limited reduced its petrol price to N815 per liter across its retail outlets in Abuja on Monday amid an ongoing price war in the country’s oil downstream sector.
While NNPCL retail outlets’ price stood at N815 per liter, the new price is still N76 higher compared to Dangote Refinery-backed MRS filling at N739 per liter.
At the end of last year, Dangote Refinery had announced a massive drop in petrol prices to edge out marketers.
Dangote Refinery’s price cut set the tone for a petrol price war among major players into the new year, 2026.
Bellnews reports that fuel price is currently between N739 and N900 per liter across filling stations.
This showed that there is a huge price gap between Dangote-backed MRS and other filling stations, including NNPCL.
While this price gap subsists, Bellnews reports that the majority of Nigerians are yet to benefit from cheaper fuel prices nationwide.
In a move to close the price gap and for more Nigerians to benefit from cheaper fuel prices, Maigandi said its members would begin dispensing petrol at N750 maximum price in January as soon as Dangote Refinery kicks off direct sales to IPMAN members.
“You know, he (Aliko Dangote) promised that Dangote Refinery will start direct supply to filling stations this month, January 2026.
“We are waiting for the refinery to supply to independent marketers; it’s going to start in January. That’s the promise he made.
“Immediately he starts direct delivery, without transport, you will see all this queue will go. You know, if you get to N699 per liter by the time you add transport, N15, the product will arrive at the rate of about N750 to your filling station.
“Immediately when he starts, you will see marketers will start buying and start discharging and reducing the price,” he told Bellnews.
Recall that in December last year, Dangote Refinery cut its petrol gantry price to N699 per liter from N838.
Aliko Dangote, the president of the 650,000-barrel-per-day refinery, later pegged MRS filling stations’ petrol price at N739 per liter.
However, the drop has not spread across players in the downstream sector, as filling stations still dispense petrol as high as N900 per liter in Abuja and other parts of the country.