Petrol prices across the country are falling as private depot owners and the Nigerian National Petroleum Company (NNPC) adjust their rates following a surge in supply triggered by the Dangote Refinery. The refinery recently announced that it is ready to deliver 50 million litres of petrol daily in December and January, with production expected to increase to 57 million litres per day from February 2026. The increased availability has intensified competition in the market, pushing depots and major marketers to lower their prices.

In Lagos, several depots including Wosbab, Integrated, Chipet, and Bovas have revised their prices to around N836 per litre, while Aiteo is selling slightly lower at N835. Port Harcourt depots now offer petrol at N853 per litre. In Warri, fresh supplies from incoming vessels have brought prices down to between N846 and N848, and in Calabar, rates currently sit between N846 and N849. These adjustments reflect reductions from earlier ex-depot prices that ranged from N839 to N853 nationwide.

NNPC retail stations have also reduced pump prices. In Lagos, petrol now sells at N905 per litre, down from N910, while Abuja stations have dropped from N940 to N930. Other marketers, including Ardova and MRS, have similarly adjusted their prices, with many Lagos outlets now selling petrol below N900 per litre. Market analysts expect more downward movement if supply continues to strengthen and competition increases.

The Dangote Refinery reaffirmed its commitment to meeting local fuel demand in a statement on X, confirming that it is prepared to supply 1.5 billion litres of petrol monthly through January, increasing to 1.7 billion litres monthly from February.

Diesel prices are also experiencing relief. After reaching highs above N1,100 earlier in the year, diesel now sells between N911 and N950 at major depots. Analysts attribute this decline to improved supply, reduced demand, and rising local production capacity.