- After the Dangote slash
Private petroleum depots owners in Lagos have slashed the ex-depot price of petrol from an average of N828 per litre to N710 per litre, representing a reduction of N118 or 14 per cent
The move follows recent price reductions by the Dangote Refinery, which has influenced market pricing in the region.
Reports arising from market surveys on December 15, 2025, showed that major depots including Menj, Integrated, Bovas, and A.A. Rano adjusted their prices downward in response to Dangote-linked marketers offering petrol at around N703 per litre.
Depot operators noted that attempts to maintain prices near N800 per litre led to slow sales and the risk of stock accumulation, necessitating alignment with the lower market rates.
The reduction is expected to intensify competition in Lagos’ downstream petroleum sector and could trigger further price cuts during the holiday season if Dangote Refinery continues to sustain its supply and pricing approach, benefiting consumers across the State.