Petrol Price to Drop Soon as Dangote Refinery Resumes Loading
Petroleum marketers across Nigeria have expressed optimism that the pump price of Premium Motor Spirit (PMS), commonly known as petrol, will fall in the coming days as the Dangote Refinery resumes full-scale loading of the product to marketers.
Abubakar Maigandi, President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), told PulseNets on Monday that members of the association have already commenced loading petrol at the 650,000-barrel-per-day refinery.
According to Maigandi, the renewed supply will significantly ease the nationwide fuel scarcity and stabilise retail prices.
“Our members have started lifting petrol from the Dangote Refinery at ₦877 per litre, up from ₦820,” he told PulseNets.
He added, “We expect that once the product becomes more available across outlets, prices will adjust downward slightly. I can’t predict the exact figure, but Nigerians should see some relief soon.”
In a similar vein, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, spoke to PulseNets, affirming that improved product availability will push down fuel prices and ease the burden on consumers.
“Whenever sufficient volumes of petrol are supplied from Dangote Refinery, DAPPMAN depots, or IPMAN members, the market becomes wet enough to ensure fair and affordable prices for Nigerians,” he explained.
Independent checks by PulseNets revealed that several filling stations, including MRS, Emedeb, Optima, and Bova, have resumed dispensing fuel to motorists, indicating a gradual restoration of supply.
Over the past two weeks, retail fuel prices in parts of Abuja had surged to between ₦940 and ₦965 per litre, causing widespread frustration among commuters and transport operators.
Industry stakeholders told PulseNets that the recent spike was primarily due to a temporary supply disruption at the Dangote Refinery.
Last week, Devakumar Edwin, Vice President of Dangote Industries Limited, disclosed that over 310 million litres of petrol have been scheduled for loading at the refinery, signaling a ramp-up in production and distribution.
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Meanwhile, PulseNets learnt that some retail outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) and other major marketers had previously adjusted their pump prices from between ₦905 and ₦910 to ₦940–₦965 per litre, pending the refinery’s resumption of consistent loading.
With loading activities now fully underway, marketers and consumers alike are hopeful that the market will stabilise and petrol prices will begin to drop in the coming days.
