Fuel importers have sparked fresh competition in Nigeria’s petroleum market by cutting petrol prices below those offered by the Dangote Petroleum Refinery. This pricing battle comes just as Dangote calls on the Federal Government to ban fuel importation to protect local refiners.
Findings show that several independent marketers now sell petrol below ₦860 per litre. In Ogun State, a filling station reportedly sold at ₦847, while major importers like Aiteo and Menj are offering depot prices as low as ₦815 per litre. In contrast, Dangote Refinery is selling at ₦820 per litre, with its partners such as MRS and Heyden pricing between ₦865 and ₦875 in Lagos and Ogun States.
Marketers say they’re using price cuts to stay in business following earlier losses tied to Dangote’s price adjustments.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the drop in depot prices and defended the importers’ actions. He praised the liberalised fuel market, saying competition helps regulate pricing and discourages monopoly.
“This is the beauty of market liberalisation,” Ukadike said. “Nobody should be banned from importing fuel. Let local and foreign suppliers compete — that’s how to keep prices fair.”
But Aliko Dangote disagrees. The business mogul has warned that the influx of cheap, and in some cases toxic, imported fuels is harming local refineries. He insists that such “dumping” practices discourage investment and undermine Nigeria’s refining goals.
Dangote has urged the government to enforce its “Nigeria First” policy in the petroleum sector, calling for restrictions on fuel imports to give local producers a chance to thrive.
He claims some of the fuel being imported is of low quality and would not be accepted in countries like the U.S. or those in Europe. He also alleged that subsidised fuels from countries like Russia are flooding African markets and damaging fair pricing structures.
Despite his concerns, many marketers argue that the real solution lies in building trust in local refining, not banning competition. They also point out that existing regulatory bodies already screen imported products for quality.
