Dangote Refinery has urged petrol station owners and dealers nationwide to register for its direct supply scheme and benefit from the current gantry price of ₦699 per litre.
It said the offer is available to all petrol station owners and dealers nationwide.
The $20 billion refinery had on December 12, announced a ₦129 reduction of its ex-depot price from ₦828 to ₦699 per litre.
On Sunday, during a press briefing in Lagos, President of the Dangote Group, Aliko Dangote, said the pump price of petrol would consequently come down to about ₦739 or ₦740 per litre at retail outlets across the country.
READ ALSO: Dangote Says Petrol Pump Price will drop to N740/litre, Accuses NMDPRA of Sabotage
Dangote, who decried indiscriminate issuance of licence to importers who bring in substandard products, vowed that the company would deploy all necessary resources to ensure that Nigerians get the product at an affordable rate.
About 24 hours after Dangote’s pronouncement, MRS Oil, a major distribution partner of the refinery, began to sell its petrol at ₦739 per litre in some parts of Lagos. This attracted many motorists and commuters who formed long queues in the filling stations to get the product at a lower price as other outlets were still selling between ₦880 and ₦850 at the time in Lagos.
READ ALSO:Petrol Pump Prices to Drop as Dangote Refinery Slashes Gantry Price to ₦699/litre
Pinnacle Daily recalls that the 650,000 barrels per day refinery had in July announced plans to introduce a direct distribution scheme that offers free logistics to retail outlets and bulk buyers, saving costs and making petrol and diesel available to all parts of the country. It subsequently deployed 4,000 CNG-powered trucks for the nationwide distribution scheme.
In a post on its X handle on Friday, December 19, the refinery said it is offering additional incentives to marketers, which include: a 10-day credit facility with bank guarantee for a minimum purchase threshold of 500,000 litres.
The latest move by the refinery had drawn mixed reactions from stakeholders in the industry, particularly petroleum products marketers.
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Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) kicked against the price cut, describing it as a “dirty price war.”
PETROAN President, Billy Gillis-Harry said the price cut came after marketers had stocked products at higher prices, adding that they would lose billions of naira.
However, the Independent Petroleum Marketers Association of Nigeria (IPMAN), expressed delight in the petrol price cut.
In a statement on Friday, IPMAN President, Abubakar Maigandi Shettima directed members to prioritise purchase of petrol from Dangote Refinery, stating that it offers “the best affordable price for all marketers today.”
Registered IPMAN members expect to start receiving free delivery of petrol to their filling stations across the country in January 2026 under the direct distribution model. This is expected to further stabilize supply chains and potentially lower pump prices at retail outlets.
Shettima, who condemned what he described as “reckless” issuance of import licenses, asserted that fuel import depletes foreign exchange reserves, destroys jobs and affects efforts towards boosting domestic refining capacity needed to achieve energy self-sufficiency.
The IMPAN president called on the new leadership of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to prioritise local refining of petroleum products.
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in Mass Communication. He can be reached via @VICTOREZEJA on X
