Dangote Refinery Slashes Petrol Price to ₦835 per Litre, Easing Nigeria’s Economic Strain
LAGOS, Nigeria—Dangote Petroleum Refinery announced a further reduction in its ex-depot petrol price to ₦835 per litre, effective April 16, 2025, marking its third cut in six weeks, as Nigerians grapple with a naira crash to N1,640/$1 and 40% inflation, per a company statement. The move, lauded by retailers but met with skepticism over broader impact, has fueled #DangotePriceCut at 150,000 posts on X, amid ongoing fuel price wars with NNPC and revived state refineries, as of April 17, 2025.
Third Cut in Weeks: ₦835 Petrol Hits Market
Dangote Refinery lowered its gantry price for Premium Motor Spirit (PMS) from ₦890 to ₦835 per litre, following cuts from ₦950 on February 1 and ₦825 on February 27, per Nairametrics. Anthony Chiejina, Dangote’s spokesperson, cited falling global crude oil prices and Ramadan’s end as drivers, aiming to ease transport and living costs, per Daily Post. Marketers like MRS and Ardova Plc are expected to sell at ₦860-₦895, adding transport and margins, with pump prices projected at ₦900 nationwide, per ThisDay. #FuelRelief posts (80,000) celebrate, but @LagosHustler tweeted, “Will transporters reduce fares?”
Economic Context: Nigerians Seek Relief
The price cut comes as Nigeria battles economic woes—rice at ₦100,000 per bag, fuel powering generators for 70% of households, and a N659 billion market dip, per NBS. The naira’s slide to N1,640/$1 on April 16, despite CBN’s $300 million forex injection, amplifies hardship, with 95 million in poverty, per World Bank. “This helps, but ₦835 is still high,” said Abuja driver Musa Ibrahim, echoing #NairaCrisis posts (170,000). Dangote’s move aligns with Tinubu’s deregulation push, ending NNPC’s ₦133/litre subsidy in October 2024, per Wikipedia. #FixNigeria posts (130,000) demand more cuts.
Price War Intensifies: Dangote vs. NNPC
The reduction deepens competition with NNPC, which cut retail prices to ₦860 in Lagos on March 3, per Channels TV, after Warri and Port Harcourt refineries resumed, producing 200,000 bpd combined, per The Guardian NG. PETROAN’s Billy Gillis-Harry praised the “healthy rivalry,” predicting lower inflation, per ThisDay. However, NNPC’s March 19 shift to dollar-based crude purchases strained Dangote’s naira sales, prompting a temporary dollar pivot, per Reuters. Analyst Dr. Tunde Lawal said, “This war benefits consumers, but crude supply gaps persist.” #NNPCvsDangote posts (60,000) debate sustainability.
Skepticism and Challenges: Will Prices Stick?
Despite optimism, critics like @KVenchy on X question the cuts’ impact, noting cement prices remain high and transport costs sticky, with #PriceCutDoubts at 40,000 posts. Economist Paul Alaje warned pump prices could rebound above ₦1,000 if NNPC-Dangote talks falter, per Channels TV. Dangote’s 650,000 bpd refinery, fully operational since November 2024, holds millions of litres in stock, per Nairametrics, but crude shortages—Nigeria’s output at 1.3 million bpd, per OPEC—threaten supply, per Reuters. #FuelScarcity posts (50,000) cite long queues in Abuja.
A Step Toward Stability?
Dangote’s ₦835 price, backed by refunds to marketers buying above ₦825, aims to curb profiteering, per Nairametrics. PETROAN urged compliance, forecasting cheaper goods, per Daily Post. Tinubu hailed the refinery’s role in energy independence, per a State House release, as it cuts Nigeria’s $15 billion import bill, per VOA. Yet, with Benue’s 30 deaths and Lassa fever’s 120 toll, per Reuters, Nigeria’s crises overshadow gains. #DangoteHope posts (70,000) ask: Can this spark broader relief, or is it a fleeting win in a turbulent economy?
