Nigeria’s petroleum market is experiencing a new price war as independent marketers and financially backed filling stations crash prices below the N875 per litre sold by the Dangote Refinery partner stations.

As of June 3, 2025, Al-Moruf Filling Station at the Power Line area in Igando in Lagos sells petrol at N865 per litre, Eunice filling station displayed N859, and MOJ sells for N865.

NNPC and other retailers drop PMS price

Meanwhile, NNPC Retail has also adjusted its rate to N870, adding to the growing list of stations challenging Dangote’s dominance in the petroleum retail market.

However, there are indications that the mega refinery may drop prices further to tighten control on the market.

Data from Petroleumprice shows that depot owners have also dropped their prices. According to the report, AITEO depot now sells petrol at N826 per litre, offering resellers a good margin advantage.

Experts say these price movements come despite Dangote Refinery’s increased production capacity and recent refining gains.

They say these developments show a shift in price leadership, with private and independent operators overtaking the Dangote network.

Diesel prices also crash

According to industry experts, if depots and retailers can offer cheaper fuel than the 650,000 bpd-capacity refinery, it means a lot concerning economics and long-term pricing strategies.

They expect more aggressive pricing in the coming weeks as depot supply ramps up and independent marketers increase their market share.

Diesel prices are also reportedly under review, with depot transactions inching towards underpricing trends.

Energy experts say Nigeria’s deregulated downstream sector is now fully exposed to market forces, and competition is growing.

Marketers unite against Dangote Refinery

While Dangote’s presence changed domestic refining, retailers are finding new ways to compete and remain consumer-friendly.

A recent report by Legit.ng disclosed that Independent marketers are banding together to minimise losses caused by the incessant price reductions by the Dangote refinery.

The report stated that the marketers now combine to buy about 40,000 litres of petrol for two or more marketers to minimise high exposure to losses.