Petroleum product importers could lose a staggering N13.998 billion monthly following Dangote Refinery’s third petrol price reduction in six weeks. Fresh industry data reveals imported petrol’s landing cost is now N33.33 higher than Dangote’s revised ex-depot price of N835 per liter. While still substantial, the projected losses represent an 81% reduction from March’s devastating N75 billion monthly losses, largely due to declining import volumes. Industry stakeholders view this as a pivotal shift in Nigeria’s fuel supply dynamics, with Dangote’s pricing power reshaping competition. The refinery’s partners including MRS, Ardova, Heyden, and others have adjusted their retail prices accordingly, with regional variations ranging from N890 in Lagos to N920 in the South-East, South-South, and North-East. IPMAN’s National Publicity Secretary Chinedu Ukadike acknowledged the development’s positive impact for consumers but lamented the billions marketers with old stock will lose.
Source: Punch Ng
