Several filling stations and fuel marketers affiliated with Dangote Refinery have temporarily ceased operations over the past five days, following a recent drop in the price of premium motor spirit (PMS) by the 650,000-barrel-per-day refinery.
Reports indicate that MRS stations along the Kubwa Expressway in Abuja and others have stopped fuel sales since Tuesday, April 16, 2025, when Dangote Refinery reduced its ex-depot price to ₦835 per litre.
A staff member at an MRS station, who spoke anonymously, revealed that the closure was due to losses incurred from unsold fuel purchased at higher prices before the reduction.
“We shut down because of Dangote’s price cut. We still have old stock, and selling it at a loss isn’t feasible,” the official said, adding that the station may resume operations on Tuesday.
Another employee attributed the closure to ongoing maintenance work, saying, “We’ve been conducting maintenance and should reopen on Tuesday, selling at the new price of ₦910 per litre.”
Other Dangote Refinery partners like AP, Ardova, and Optima are currently selling fuel at prices ranging from ₦910 to ₦920 per litre in parts of Abuja as of Monday, April 21.
Commenting on the situation, Billy Gillis-Harry, National President of the Petroleum Retailers Outlets Owners Association of Nigeria (PETROAN), noted that such sudden price changes disrupt the operations of fuel marketers and hurt the economy.
“Unplanned changes in petrol prices—up or down—without clear economic justification negatively affect retailers’ purchasing power and the broader economy. Stable pricing with proper communication is essential,” he stated.
Gillis-Harry previously proposed a six-month fuel price stabilization plan to curb volatility in the sector.
Similarly, Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), warned that marketers holding old stock could suffer massive financial losses due to the price drop.
This latest reduction marks the second nationwide fuel price cut by Dangote Refinery, totaling a ₦45 per litre decrease. On April 10, the refinery had lowered its petrol gantry price to ₦865 before reducing it further to ₦835.
The price cuts come amid falling global crude prices—now around $66 per barrel—and the federal government’s continued support for the naira-for-crude initiative with local refineries.
In response to Dangote’s price adjustment, the Nigerian National Petroleum Company Limited (NNPC) also lowered its retail price to ₦935 per litre in Abuja.
Currently, fuel prices across Nigeria vary between ₦890 and ₦950 per litre, depending on location.