The Dangote Refinery has reduced the price of the Premium Motor Spirit popularly known as petrol from N865 to N835 per litre, which is about 52 US scents.
According to CGTN Africa, the refinery pricing strategy is a calculated effort to gain market share.
However, the petroleum product marketers on Monday, April 21, 2025, lamented their losses as the Nigerian National Petroleum Company Limited (NNPCL), reduced the price petrol from N925 to N880 per litre in Lagos and N935 in Abuja.
The NNPC price reduction came barely a week after the Dangote refinery lowered its ex-depot price from N865 to N835 per litre.
The $20bn refinery also directed its partners like MRS, Heyden, and Ardova to sell a litre of petrol at the rate of N890 instead of N920 in Lagos, N900 in the South West, N910 in the South-South, and N920 in the North East.
