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Dangote oil refineries’ latest gasoline price drops to N835 per liter, and fuel importers lose N139.99 billion n139.98 billion per month, as their landing costs now exceed Dangote’s previous sales price, n33.33 per liter.
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The move marks a shift in Nigeria’s oil supply chain, with a decline in imports, an increase in local refining and a decline in demand for imported gasoline due to the growing market impact of Dangote.
Importers of Nigeria’s Premium Automotive Spirit (PMS) are expected to lose to 13.998 billion a month after the recent price cuts announced by Dangote oil refinery.
As Dangote lowered its former sales price from N865 to N835 per liter, importers are now forced to sell at a loss because its landing cost is N868.33 per liter, which is higher than the local refinery prices.
Oil marketers raised concerns about the market imbalance caused by Dangote’s price advantage. “Participants who own old-priced stocks will have to lose billions of dollars in Naira,” said Chinedu Ukadike, spokesman for the Nigerian Independent Petroleum Marketers Association.
Fuel traders say sharp price differences make it difficult to compete, forcing them to sell below cost to stay relevant to the market.
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Stakeholders believe this development reflects a significant shift in the industry as fuel imports dropped from 44.6 million a day in August 2024 to 14.7 million liters in April 2025, mainly due to the increase in local refining.
“The refinement in Nigeria has begun to stay,” said Eche Idoko of Koran. Meanwhile, NNPC also lowers its pump price to N935 per liter as consumers tend to offer cheaper options from Dangote distribution partners across the country.
