The fuel prices across numerous Nigerian filling stations have started to decline significantly, reflecting a new market trend following a drop in the landing cost of petrol. Major marketers in Abuja, including NIPCO, AA Rano, Eterna, and Empire Energy, have adjusted their pump prices downward, with NIPCO and AA Rano selling petrol at N940 per litre, down from the previous range of N950 to N955.
Similarly, Eterna and Empire Energy have reduced prices to N945 and N955 per litre respectively, marking a reduction between N4 and N10 per litre. Even the Nigerian National Petroleum Company Limited (NNPC) retail outlets in Abuja have aligned with this trend by cutting their price to N945 per litre.
This price adjustment comes as the landing cost of petrol fell to ₦827.04 per litre as of November 3rd, 2025, decreasing from ₦829.77 recorded at the end of October. Notably, this landing cost is now lower than the Dangote Refinery’s ex-depot price, which remains around ₦872 per litre. This means the current landing cost of petrol is about ₦44.96 cheaper than the refinery’s ex-depot price.
A station manager who spoke anonymously said, “We may reduce our price in the evening or so, but at the moment we still dispense fuel at N950 per litre.”
However, some brands like MRS (Dangote Petrol) and Ranoil have kept their prices unchanged at N950 and N955 per litre.
This trend follows the recently implemented 15 percent import duty on petrol and diesel, approved by President Bola Ahmed Tinubu. The tariff aims to encourage local refining and support the Dangote Refinery’s operations by protecting domestic refineries and reducing the influx of cheaper imported fuel. Industry insiders expect that the policy will eventually affect imported fuel prices as the import duty takes full effect.
The new pricing landscape is a response to a gradual market correction influenced by global crude oil prices and local government policy. According to energy market observers, the reduction in landing costs and subsequent fuel price drops at retail stations signify an adjustment phase with optimistic prospects for local refining and energy security in Nigeria.
In explanation of the government’s strategy, a statement from the Special Adviser to the President on Media and Public Communications, Sunday Dare, described the new import tariff as “a bridge, not a burden,” aimed at transforming Nigeria’s petroleum sector toward energy self-sufficiency. “For years, Nigeria has depended heavily on imported fuel despite being a leading crude oil producer, draining foreign exchange and exporting jobs that should have been created at home. This new policy is designed to reverse that trend,” the statement added.
Industry voices urge that for the policy to succeed, fuel importers must patronize local refineries, and the Nigerian National Petroleum Company must supply adequate crude oil to domestic refineries. The Dangote Refinery has assured Nigerians of steady fuel supply, especially during the festive period.
