Dangote Refinery: See Amount Independent Marketers Raise Petrol Prices to
Independent oil marketers have increased the pump price of petrol in the Federal Capital Territory (FCT) to reflect the costs at which they purchase the product from Dangote Refinery and Petrochemical Company.
Recent observations indicate that many filling stations are now charging an average of ₦1,200 per liter for petrol.
This price adjustment comes in the wake of the full deregulation of Nigeria’s downstream petroleum sector, which allowed the Nigerian National Petroleum Company Ltd to terminate its exclusive purchasing agreement with Dangote Refinery.
As a result, the market has opened up, enabling other marketers to source petrol directly from the refinery. This shift means that the NNPC is no longer the sole buyer, allowing marketers to negotiate prices directly with Dangote Refinery.
This change is consistent with practices for fully deregulated products, where refineries can sell directly to marketers without intermediary restrictions.
