Petroleum products marketers have hinted at an imminent drop in petrol prices nationwide in the coming days as the parity between imported petrol fell below the Dangote refinery gantry price.
In an exclusive interview on Monday, Abubakar Maigandi, the president of the Independent Petroleum Marketers Association of Nigeria(IPMAN), revealed this.
His remarks came after data from the Major Energies Marketers Association of Nigeria revealed that imported gasoline was, on average, N77 per litre less expensive than gantry fuel from Dangote Refinery, which was N799 per litre.
In a statement released last week, Dangote Refinery called on marketers to avoid coastal petrol because it was N75 more expensive.
The development signalled a fresh dilemma for petrol marketers.
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Meanwhile, as the debate around price parity persists, the retail fuel pump price stood at N839 and N905 per liter across filling stations in Abuja.
According to investigations and checks, some petrol stations in Lagos lowered their prices to as low as N817 per litre, which is less than the N839 per litre pricing at the MRS filling station, which is supported by Dangote Refinery.
The action also hinted at the potential for a nationwide spread in the decline in petrol prices.
Speaking about the development, Maigandi stated that retail fuel prices could drop significantly across the country due to the current state of the market and the necessary enabling environment.
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At least 80% of its members currently buy petrol from Dangote Refinery, he said.
According to Maigandi, the national petrol price parity is caused by logistics costs.
“It depends on the capacity of the product you want to purchase. I said the price differs.
“For those who are buying more than 2 million liters, they have a discount of N20 per liter.
“For those who are buying 5 million liters and above, they have a discount of 25 Naira. They buy at the normal price, 799.
“Presently we need to recommend Dangote for what he did for the country.
“Almost 80 percent of my marketers are buying their product through Dangote directly. That depends on the distance.
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“Like in Lagos; they are selling N820 and N825. Here in Abuja they are selling for N875 and N870 per liter.
“Because now if you check, we have only one refinery in the country. So by the time another refinery and import is being brought up, there will be competition and prices will drop. Fuel price will likely come down again,” he said.
Recall that in January, Dangote Refinery increased its gantry price to N799 per liter from N699, which led to an upward spike in retail petrol price nationwide.
Also recall that in December of 2025, Aliko Dangote, the president of the refinery that produces 650,000 barrels per day, promised to lower petrol price to N739 per litre. However, most filling stations in Nigeria did not follow through on his pledge.
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