Petroleum products marketers in Nigeria anticipate a nationwide fuel price reduction soon, driven by imported petrol costing N77 less per liter than Dangote Refinery’s gantry price of N799.
Abubakar Maigandi, president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), shared this outlook in a Daily Post interview on Monday.
Data from the Major Energies Marketers Association of Nigeria (MEMAN) confirmed the import parity edge, creating fresh challenges for marketers amid Dangote’s call to shun costlier coastal supplies.
Retail prices currently hover at N839-N905 per liter in Abuja, but Lagos stations have dipped to N817—below Dangote-backed MRS outlets at N839—hinting at broader cuts.
Maigandi, noting 80% of IPMAN members source from Dangote, attributed price gaps to logistics and volume discounts: N20 off for over 2 million liters, N25 for 5 million-plus. “We recommend Dangote for his contributions,” he said, predicting competition from imports and future refineries will drive prices lower. Lagos sales hit N820-N825, Abuja N870-N875.
This follows Dangote’s January gantry hike from N699 to N799, reversing December vows of N739 retail. Crude traded at $64.36 (WTI) and $69.15 (Brent) per barrel Monday evening.
