Fuel price competition intensified along the Lagos-Ibadan Expressway as SGR Filling Station in the Mowe axis cut its pump price to N805 per liter, down from N812 earlier in the week.
The reduction followed a price slash by a nearby NIPCO outlet at Lotto, which lowered its rate from N828 to N812 per liter. SGR retained its position as the cheapest retailer in the area, prompting other marketers to adjust prices to stay competitive.
Along Ibafo, Alade Filling Station sold petrol at N820 per liter, while Habeeb Filling Station maintained N819 per liter. SAO stations in Mowe and Lotto sold at N825 per liter. Akiavic AP and other outlets across the corridor also revised their rates.
The Dangote-partnered MRS filling station at Olowotedo reduced its pump price to N825 per liter from N839 as motorists shifted to lower-priced outlets. However, the MRS outlet near the Redeemed Christian Church of God camp continued to sell at N839 per liter, even as a neighboring AP station reduced its price to N834 per liter.
Outlets operated by Nigerian National Petroleum Company Limited in Lagos and Ogun sold petrol between N837 and N840 per liter, depending on location and competitive pressures.
Earlier in the week, Dangote Petroleum Refinery and Petrochemicals FZE cut its petrol gantry price by N25 per liter, from N799 to N774, effective immediately. The refinery notified marketers of the adjustment in a statement from its Group Commercial Operations Department.
Despite the ex-depot price cut, MRS and other partners had not reflected the reduction at the pump as of Friday. Many MRS stations continued selling at N839 per liter, maintaining the same margin as when the ex-depot price was N799. Retail prices were previously adjusted immediately when ex-depot rates increased.
The refinery said the new gantry price strengthened the competitiveness of locally refined products, noting that the landing cost of imported petrol from Lome stood at about N793 per liter, compared with its N774 ex-depot price.
However, the Major Energies Marketers Association of Nigeria put the average landing cost of imported petrol at N722.08 per liter, about N52 lower than Dangote’s ex-depot price.
Meanwhile, the refinery said it had reached its full nameplate capacity of 650,000 barrels per day following the restoration and optimization of its crude distillation unit and motor spirit production block.
In a statement, the company described the achievement as a milestone for a single-train refinery of its scale and said it had begun a 72-hour performance test run in collaboration with its licensor, UOP, to validate operational stability, efficiency and compliance with global standards.
Managing Director and Chief Executive Officer David Bird said the integration of the units underscored the refinery’s engineering capacity and operational resilience.
