A recent report on Friday, September 20, revealed a significant shift in Nigeria’s petroleum market. Major oil marketers, including 11 Plc, TotalEnergies, and AA Rano, have begun sourcing petrol from the Dangote Refinery, resulting in a notable price reduction.
Petrol is now being purchased at N765.99 per litre, a significant drop from previous rates that exceeded N950 per litre.
The Dangote Refinery, Africa’s largest, with a capacity of 650,000 barrels per day, aims to decrease Nigeria’s reliance on imported fuel. This development is expected to improve fuel availability and contribute to price stability nationwide.
However, independent marketers are currently unable to access petrol directly from the refinery due to regulatory constraints, as the Nigerian National Petroleum Company (NNPC) remains the sole entity allowed to offtake fuel from the Dangote facility.
Despite the lower prices, concerns remain about competition and market transparency. The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called for fair pricing policies to ensure that locally produced petrol remains a viable alternative to imports, advocating for a balanced approach in distribution to foster competition and promote long-term stability in the market.
