Fuel marketers are lamenting low sales following the nationwide rollout of petrol by Dangote Refinery at N739 per litre.
Marketers, who spoke to Daily Sun in separate interviews, said the price drop was negatively affecting their sales.
Investigations across MRS filling stations, the implementing retail fuel station and lead partner to Dangote Refinery, revealed that retail pump prices had been adjusted to N739 per litre.
As of 10am yesterday, MRS filling stations at Kodesho in Ikeja, Alapere, Iju Road and Abule Egba, all in Lagos, had updated their pumps to reflect the new price.
However, most major and independent marketers were still selling petrol above N825 per litre.
Along the Ikorodu Road stretch, many filling stations operated by major marketers remained idle, with fuel attendants seen talking.
A similar scenario was observed on the Apapa – Mile corridor. MRS stations, in contrast, had long queues, further worsening traffic congestion.
National President, Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, lamented that arbitrary price changes were financially harming petroleum marketers. He added that Dangote Refinery seemed unconcerned about the financial difficulties these changes could bring to the retail sector.
In a statement, Dangote Petroleum Refinery explained that the decision to reduce petrol prices to N739 per litre marked a significant milestone in the refinery’s mission to deliver affordable fuel to Nigerians and stabilise the downstream petroleum market.
With over 2,000 MRS stations nationwide, the refinery said, the new pricing would be implemented in all outlets, ensuring that the benefits of this reduction reach consumers nationwide. The refinery commended marketers who have embraced the new pricing regime and urged others to follow suit in support of national economic recovery.
“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the refinery stated.
Historically, the festive season has been associated with fuel scarcity and sharp price hikes. However, Dangote Refinery has delivered a decisive market intervention, slashing pump prices at a time when Nigerians typically brace for hardship. Backed by a guaranteed daily supply of 50 million litres, this initiative fundamentally alters the supply dynamics during the holiday period.
By refining locally at scale, the refinery is reducing Nigeria’s exposure to volatile global markets, conserving foreign exchange, stabilizing the Naira, and strengthening energy security. This sustained price cut and steady supply provide relief to households, businesses, and transport operators nationwide.
The refinery also issued a stern warning against attempts by unscrupulous operators to create artificial scarcity in response to the price reduction, calling on government agencies to act decisively.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable. We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the statement added.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
“We encourage Nigerians to avoid buying petrol at excessively high prices when they can access locally refined fuel at N739 per litre from over 2,000 MRS stations nationwide. Report any MRS station selling above N739 per litre by calling 0800 123 5264,” the refinery said.
Credit: The Sun