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Nigerians may soon enjoy relief at the fuel pump as the Dangote Petroleum Refinery takes major steps to reduce petrol prices across the country. In a strategic move welcomed by citizens and stakeholders alike, the refinery recently slashed its ex-depot price from ₦950 to ₦890 per litre. This has already begun triggering a price adjustment in the downstream sector.
The ripple effects were swift. The Nigerian National Petroleum Company Limited (NNPCL) responded by reducing its own pump prices in several locations, with petrol now selling at about ₦860 to ₦899 per litre in parts of Lagos and Ogun State. Industry analysts suggest this marks the beginning of a competitive price war that could ultimately benefit consumers.
In a bid to further bring down logistics costs and eliminate middlemen, Dangote has announced plans to deploy over 4,000 CNG-powered fuel tankers across Nigeria starting from August 2025. This distribution network aims to cut over ₦1 trillion in annual logistics expenses and potentially save Nigerians more than ₦1.7 trillion yearly in fuel-related costs.
Stakeholders including the Nigeria Labour Congress and Independent Petroleum Marketers Association of Nigeria (IPMAN) have applauded the initiative. Many believe that with Dangote taking control of both refining and distribution, transparency and affordability in the fuel sector may become more achievable.
Experts also argue that beyond reducing prices, the improved supply chain could ease inflation, enhance accessibility in rural areas, and drive economic growth. With the refinery producing at full capacity and extending its reach directly to marketers, there’s strong hope that long queues and arbitrary pump price hikes could soon become history.
If Dangote keeps up this momentum, Nigeria’s dream of energy independence and fuel price stability might finally become a reality.
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