Several filling stations across Abuja have shut down operations following Dangote Refinery’s recent cut in ex-depot petrol prices, triggering market disruptions and financial losses for petroleum marketers.
For the past five days, MRS and other marketers along the Kubwa Expressway in Abuja have not dispensed fuel, citing losses incurred from unsold stock purchased at higher prices before the reduction. Dangote Refinery had slashed its ex-depot price from N865 to N835 per litre on April 16.
An official at one MRS station, who spoke anonymously, said, “We couldn’t sell at a loss. That’s why we’ve remained closed. We expect to reopen on Tuesday.”
Another staff member cited “minor maintenance” as the reason for the temporary closure but confirmed sales would resume at N910 per litre.
Other Dangote Refinery partners, including AP, Ardova, and Optima, are reportedly selling petrol at N910–N920 per litre in parts of Abuja as of April 21.
Billy Gillis-Harry, President of the Petroleum Retailers Outlets Owners Association of Nigeria, told Daily Post the sudden price drops destabilize the market and harm retailers. “Uncoordinated fuel pricing affects not just businesses but the entire economy,” he warned.
Last week marked the second price slash by the $20 billion refinery in April, with a cumulative reduction of N45 per litre. The move coincides with falling global crude prices—now around $66 per barrel—and the federal government’s continued naira-for-crude exchange with local refiners.
The NNPC has also reduced its retail price to N935 per litre in response to the competition, while pump prices nationwide range between N890 and N950 depending on location.
