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Depot owners across Nigeria cut petrol prices by up to N43 per litre following Dangote Refinery’s latest N50 ex-depot price reductionMajor marketers in Lagos, Warri, and Calabar lowered PMS prices to remain competitive The widespread price cuts signal intensifying competition in Nigeria’s downstream petroleum market
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Oil marketers have slashed petrol prices across major depots in Nigeria following Dangote Petroleum Refinery’s latest N50 per litre reduction in the ex-depot price of Premium Motor Spirit (PMS), intensifying competition in the downstream petroleum market.
The latest price adjustments come after Dangote Refinery reduced its gantry price to N1,075 per litre from N1,125, marking its fourth petrol price cut within one month.
Petrol prices crash across Nigerian depots as marketers respond to Dangote Refinery Photo: BloombergSource: Getty Images
The company said the successive reductions
