Several filling stations and petroleum product marketers, including partners of Dangote Refinery, have temporarily halted operations following the refinery’s latest reduction in the price of Premium Motor Spirit (PMS). The price drop, which came into effect on April 16, 2025, has left some stations struggling with old stock and facing losses.
MRS Filling Stations in Abuja, particularly along the Kubwa Expressway, have not dispensed fuel for the past five days, as confirmed by an anonymous official. The source explained that the shutdown was necessary due to the loss incurred from the new ex-depot price of N835 per litre set by Dangote Refinery.
“It is because of Dangote’s latest price drop. The filling station had old stock, which it couldn’t sell at a loss,” the official said, adding that the station plans to reopen on Tuesday, April 22, 2025. Another official mentioned that the filling station was undergoing minor maintenance, but would resume operations at the new price of N910 per litre.
As of April 21, 2025, other partners of Dangote Refinery, including AP, Ardova, and Optima, have adjusted their prices to between N910 and N920 per litre in parts of Abuja.
Billy Gillis-Harry, the National President of the Petroleum Retailers Outlets Owners Association of Nigeria, expressed concern over the impact of the price fluctuation on the purchasing power of petrol retailers and marketers. He emphasized that indiscriminate price changes, whether upward or downward, create instability in the petroleum downstream sector and the Nigerian economy.
“At every point, if prices of petrol are indiscriminately changed without any clearly defined economic reason, the chances that it will impact the buying power of retailers and marketers are there,” Gillis-Harry remarked.
The latest price drop marks the second reduction in fuel prices by Dangote Refinery this month, following a previous decrease on April 10, 2025. The combined ex-depot price reduction amounts to N45 per litre. The move comes after a drop in global crude oil prices to around $66 per barrel and the federal government’s renewed commitment to the naira-for-crude deal with local refiners.
The Nigerian National Petroleum Company (NNPC) Limited has also adjusted its retail price to N935 per litre in response to Dangote’s price cut, leading to a national range of N890 to N950 per litre, depending on location.
Industry stakeholders, including the Independent Petroleum Marketers Association of Nigeria (IPMAN), have warned of potential financial strain on marketers with old fuel stocks, which could lead to significant losses in the wake of the price drop.
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