The Independent Petroleum Marketers Association of Nigeria IPMAN has stated that the recent reduction in Premium Motor Spirit PMS prices by Dangote Refinery is a calculated move to assert control over the country’s downstream petroleum sector.
IPMAN’s National Public Relations Officer, Chinedu Ukadike, made this known in an exclusive interview on Thursday.
His comments follow Dangote Refinery’s announcement of a fresh N15 nationwide reduction in retail fuel prices. According to the latest pricing template, major retail partners including MRS, Ardova PLC, and Optima are expected to sell petrol between N875 and N905 per litre, down from the N890 to N920 per litre range announced in April 2025.
Ukadike said the refinery’s president, Aliko Dangote, is leveraging competitive pricing as a tool to challenge fuel importers and tighten his grip on petroleum product supply and distribution in Nigeria.
“Dangote wants to use fuel price drops to tell Nigerians who his master is in the business downstream. The downstream petroleum market is very competitive. He has decided to use the price war to ensure he holds firm on the buying and distribution of petroleum products in Nigeria,” Ukadike stated.
He described the development as a “lose-win situation” for independent marketers, noting that many operators could face losses of N20 to N25 per litre if they adjust their prices to match the refinery’s latest cut.
“The price war has started, and importers should gear up to see if they can get the products cheaper than Dangote Refinery’s offer. For us, the independent marketers, it is a lose-win situation. The loss is that those who have already gotten petrol products from Dangote Refinery or its partnership will have to lose a N20 to N25 margin per litre and revert to the new price. Well, I also know that the indices of the market would be able to allow us to sell out our old stock for balance of trade,” he explained.
Since April 2025, Dangote Refinery, which has a capacity of 650,000 barrels per day, has initiated at least two fuel price reductions, coming on the heels of the Federal Government’s renewed commitment to its Naira-for-crude initiative.
More details shortly…
