Oil marketers have increased the prices of Premium Motor Spirit, also known as petrol, at filling stations amid ongoing competition with Dangote Petroleum Refinery.
Data gathered by correspondent from Petroleumprice.ng today revealed that seven oil depots increased prices by a range of 1.45% to 2.90% between June 11 and June 13, reports Channels TV.
The changes at major Lagos depots between June 11 and June 13, 2025, illustrate the upward trend in petrol prices:
Aiteo: NGN 825 → NGN 840 (1.82% increase)
Nipco: NGN 827 → NGN 845 (2.18% increase)
Menj: NGN 826 → NGN 850 (2.90% increase)
First Royal: NGN 826 → NGN 838 (1.45% increase)
Emadeb: NGN 827 → NGN 845 (2.18% increase)
Pinnacle: NGN 829 → NGN 845 (1.93% increase)
Swift: NGN 830 → NGN 845 (1.81% increase)
On the other hand, Dangote Refinery has demonstrated resilience by keeping its ex-depot price steady at NGN 835 per litre.
Dangote’s Price Template for June 16, 2025:
PMS Gantry: NGN 835.00 per litre
PMS Coastal: NGN 770.00 per litre
AGO Gantry: $684.25 + $55 (payable in Naira at FX: 1605 or in USD)
AGO Coastal: $684.25 + $8
ATK Gantry: $741.50 + $42
ATK Coastal: $741.50 + $22
LPG Gantry: NGN 840,000 (inclusive of NMDPRA charges)
The development follows Dangote Refinery’s plan to commence distribution of fuel, including compressed Natural Gas (CNG), from August 15.
President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, stated that the association has been holding meetings since the refinery announced plans to commence nationwide fuel distribution.
While appearing as a guest on Channels Television today, Gillis-Harry called on the federal government and industry regulators, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), to stop expansion moves by the Dangote Refinery.
“If one company that is as massive as our brother’s (Aliko Dangote) can do all of this, of course, it is going to take us out of business,” he said.
This came as the President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, accused oil marketers of exploiting Nigerians through inflated petrol prices, insisting that the current pump price of PMS should range between N700 and N750 per litre.
IPMAN had warned that PMS distribution by Dangote Refinery could mark the onset of a dangerous monopoly in Nigeria’s downstream sector.
IPMAN Chairman in Rivers State, Tekena Ikpaki, described the plan, backed by a fleet of 4,000 newly acquired Compressed Natural Gas, CNG-powered tankers, as a veiled strategy that could severely undermine the operations of over 10,000 independent marketers and dealers across the country.
Ikpaki said, “This initiative may appear generous on the surface, but beneath the goodwill lies a disturbing threat to market diversity and the survival of small and medium-scale operators. If left unchecked, this level of vertical integration, refining, transportation, and retail, by a single company will cripple competition.”
Dangote Refinery had explained that the plan to distribute fuel free of charge to marketers, dealers, and large-scale consumers was his effort to support the sector and reduce logistics burdens.
However, IPMAN has warned that such largesse could distort pricing, force smaller operators out of the market, and grant Dangote undue control over the entire fuel supply chain.
IPMAN said, “We acknowledge and support the development of domestic refining capacity. But allowing a single entity to control refining, logistics, and distribution without checks or counterweights is a recipe for monopolistic dominance.”
