Na serious gist dey ground for Naija fuel market, my people! E be like say we don see another cut for fuel price as Dangote Petroleum Refinery don reduce the cost of Premium Motor Spirit (PMS) by N25. Na from N799 per litre, we go land for N774 per litre. Chai! Wetin go fit make people smile pass this one?
Industry analysts don talk say this new change no be just ordinary, as e dey influenced by wetin dey happen globally for energy market and the Petroleum Industry Act (PIA). Dem refinery don dey send message to marketers since February 10, say make dem ready for dis new price wey don take effect sharp sharp.
As per the memo wey come from Dangote Refinery Group Commercial Operations Department, dem talk say, “This na to inform you say our PMS gantry price don change from N799 to N774 per litre.” No be small thing o! Plus, dem also add say dem don finish PMS lifting bonus wey dey give marketers extra incentive. Na wa!
This price cut dey come after some serious wahala for 2025 when petrol price dey fly up and down like say dem wan run marathon. Everybody sabi say na full deregulation and subsidy removal make na money matter dey shake body for pump price, sometimes reaching N800 per litre. But as Dangote Refinery come start to supply locals late last year, e don help ease some jaw breaking prices for those wey dey buy from coastal areas.
Fast forward to early 2026, price don increase back to N799 during festive period after we dey enjoy am for N699. Dis new sharp cut to N774 mean say we dey see improvement for operational efficiency and competition don dey enter the game, thanks to some modular refineries wey dey join market.
Just to remind una, Dangote Refinery no be just ordinary refinery, e get capacity of 650,000 barrels per day, which na why e dey play big role for Nigeria fuel import wahala. Dem don really change the way pricing dey happen, and na dem be reference point for many marketers. Wetin we go expect next?
Abubakar Maigandi wey be president of Independent Petroleum Marketers Association of Nigeria don come drop some hopeful gist too! E talk say price fit still drop nationwide as imported petrol dey cheaper pass Dangote gantry price. Right now, e don show say fuel price fit reduce to around N839 and N905 across some stations for Abuja, while Lagos dem dey run as low as N817 per litre. E go make many people smile, abeg!
Maigandi also talk say if logistics cost fit balance nicely, we go see better price drop across Nigeria. Na so e be, my people! Na only one refinery dey operate for our street now, but as more refineries thump their chest, prices go begin fall rapidly. Early January, Dangote raise price to N799, but people still dey hope for the N739 level wey Aliko Dangote promise last December. Na which side you dey stand now, my people?
As crude oil dey trade for $64.36 and $69.15 for West Texas Intermediate and Brent Crude respectively, the future dey shine small for Nigerian petrol market. Every eye go dey watch how this one go unfold as e get people wey dey signed hope for better days ahead. Make we keep our fingers crossed and our eyes open!
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