Filling stations foot-drag as Dangote reduces PMS price

From Abdullateef Aliyu and Eugene Agha, Lagos and Faruk Shuaibu   Filling stations have barely adjusted their pump price despite the reduction of ex-depot price by Dangote Refinery, Daily Trust can report. Yesterday, the refinery slashed its pump price in response to the decline in price of crude oil. About two weeks ago, filling stations […]

From Abdullateef Aliyu and Eugene Agha, Lagos and Faruk Shuaibu

 

Filling stations have barely adjusted their pump price despite the reduction of ex-depot price by Dangote Refinery, Daily Trust can report.

Yesterday, the refinery slashed its pump price in response to the decline in price of crude oil.

About two weeks ago, filling stations across the country adjusted the pump price of premium motor spirit (PMS), otherwise known as petrol, with a litre sold at almost N1,000 across the country.

This followed the increase in the price of crude oil in the global market, triggered by the escalating Israel-Iran hostilities, with marketers warning Nigerians to brace up for further increases unless there is a de-escalation of the tension.

As of yesterday, crude oil prices have dropped below $68 per barrel and in response Dangote slashed its ex-depot price.

The Refinery management announced a reduction in its ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N880 to N840 per litre. The new pricing took effect on 30 June 2025.

Dangote Group’s spokesperson, Mr. Anthony Chiejina, confirmed the price adjustment in Lagos, stating: “PMS price has been reduced from N880 to N840 per litre effective 30th June.”

The previous increase to N880 per litre had followed global crude oil market volatility, particularly during the 12-day geopolitical crisis in the middle east, which pushed crude oil prices to nearly $80 per barrel.

The refinery’s existing partners—MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil—are expected to reflect the new pricing at their retail outlets.

Additionally, several new marketing companies have joined Dangote’s distribution network. These include TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., and Soroman Nigeria Ltd. Others on the growing list are Jezco Oil Nigeria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, and Mamu Oil, among others.

The Dangote Refinery, the largest single-train refinery in the world, continues to expand its domestic fuel distribution footprint, offering competitive pricing and improving access to refined products across Nigeria.

The refinery, recently, announced that it has invested over N720 billion to implement its initiative of deploying 4,000 Compressed Natural Gas-powered trucks for the nationwide distribution of petroleum products, saying it is expected to save Nigerians over N1.7 trillion annually.

With assurance of steady supply of petroleum products, more independent marketers have joined the growing list of distributors retailing Dangote Refinery’s high-quality petroleum products across the country.

From August 15, Dangote will begin the direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers, the company said earlier.

 

Filling stations slow in reducing pump price

As of yesterday, most filling stations have not reduced their pump price as they still sell at N925 per litre in Lagos, checks by Daily Trust indicated.

Commercial bus drivers in Lagos expressed frustration over the high pump price of petrol, despite recent efforts by the Dangote Group to slash prices.

Findings by our correspondent in Lagos revealed that drivers are finding it challenging to operate efficiently due to the high cost of fuel, which they say is eating into their profits.

The drivers pointed out the fact that filling station owners are quick to adjust their pump price anytime there is an upward review in the pump price of petrol.

According to several drivers who spoke to our correspondent, the high cost of petrol is still a major challenge facing them.

Jude Okere, a driver who plies the Mile 2 – Badagry route stated that he was shocked to have discovered that MRS, a sister company to Dangote sold at N915 instead of N880 as quoted by Dangote refinery.

A check by our correspondent revealed that NNPC filling stations on the Mile 2 Badagry axis dispenses fuel at N950 and N970.

Yushau Kareem, another driver on the LASU-Iyana Ipaja said most drivers shuttle from LASU to Igando and from Igando to Egbeda.

“This is to ensure that they meet up with what they deliver daily and still have something to take home at the end of the day’s work,” he explained.

He also complained about the high cost of vehicle maintenance and spare parts, which, according to him, has made it difficult for them to reduce transport fares.

“We are spending more on maintenance and spare parts than we are making from transport fares,” said Mr. Kunle. “It’s a difficult situation, and we are appealing to the government to do something about it,” he added.

A check by our correspondent revealed that NNPC filling stations on the Mile 2 Badagry axis dispense fuel at N950 and N970.

 

 Fuel price drops to N945 in Abuja

Independent marketers have reduced the fuel pump price by N5, selling at N940 from N945 they sold in the past week.

Fuel stations like A.A Rano, Mobil, Total Energies and BOVAS were observed to have adjusted their prices yesterday.

Speaking Daily, a commercial driver, Alex Emmanuel, said the price reduction was little and did not make any difference.

Emmanuel who said the price has reduced more than the N5, said the Iran-Israel War that was blamed for the increase had ended so the need for the price to be reduced to its former rate.

“The price they reduce is not much so it is not worth celebrating, though we have not increased transport fare but things are getting more expensive in the market which most people will blame on the price of transportation.

“The government should look for ways to intervene so that the marketers will not sell fuel at the detriment of the people,” he said.

 

Few filling stations lower pump price from N955 to  N950 in Kano

Price of fuel at Filling stations in Kano hovers between N950 and N955 despite recent reduction by Dangote refinery, our correspondent reported.

Our reporter observed that a litre of PMS at AYMai Kifi remains N955, a rate it maintains since the tension created  by Israel-Iran war which impacted the crude oil price.

Another filling station on Zaria road Alfa Tashir of petroleum is selling a litre at N950

AA Rano and Aliko petroleum, however, reduced pump price to N950 though motorists said the reduction is too insignificant.

A motorist Hamza Bunkure said he would rather buy fuels at AZMAN filling station which sells at the same price but he is sure of its quality.

“Our petroleum products marketers profiteer whenever they have the opportunity.  Whenever there is an increase, they promptly adjust but when reduction comes they are almost always reluctant to reflect that.

“I have since reduced the frequency with which I use my car. Sometimes I just use commercial tricycles to commute simply because fuel prices remain expensive,” Bunkure told our reporter.

Abbas Sani, a motorist said he bought 10 litres of fuel today without checking the price because he was not aware of any reduction.

A black marketer, Abubakar Dangarinnan said before the latest increase of fuel price, he was selling a gallon at N4800 but increased it to N5000 noting that the N5 reduction has not changed anything.

“Today I bought a litre at N950 so just N5 reduction from the previous price and therefore I cannot lower my price of N5000 a gallon at least for now,” he said.