Marketers move to dump Dangote as price of imported fuel drops

The new figure reflects a ₦32.35 reduction compared to Dangote’s ₦955 per litre loading gantry price.

Industry data reveals marketers imported 76.84 million litres of petrol within two days, underscoring a growing preference for imported products.

This shift comes despite the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) 's earlier advocacy for a 180-day suspension of fuel imports to promote local refining.

Stakeholders note that the lower cost of imported petrol has become an attractive incentive for marketers.

“The lower cost of imported petrol is often an incentive to dealers, and you won’t blame marketers who import the product,” a prominent marketer stated, according to Punch.

The current trend, driven by cost dynamics, allows marketers to secure better margins while maintaining competitive pricing.

As import costs decline, consumers may anticipate a reduction in pump prices.

However, depot prices remain high across major locations, ranging between ₦950 and ₦990 per litre.

The pricing disparity raises questions about the impact on end-users.

The Dangote Refinery once hailed for its competitive pricing, now faces challenges in matching the affordability of imported alternatives.

Marketers argue that no binding agreement compels them to prioritise local products over cheaper imports.

The shift emphasises the ongoing hurdles to achieving self-sufficiency in fuel refining as imported products continue to dominate the market.