The president of Dangote Refinery warned that fuel importers in Nigeria are likely to incur losses as the refinery offers affordable petrol to consumers. Speaking at a briefing at the 650,000‑barrel‑per‑day facility in Lagos, he highlighted that Nigerians now have a clear choice: purchase higher‑quality fuel at a lower price or opt for blended PMS at a higher rate. He asserted that importers will continue to lose out as long as locally refined products are available, and cautioned those who persist in importing fuel to be prepared for the consequences.
He also emphasized that the nationwide retail fuel price should not exceed N740 per liter. This comment follows the refinery’s recent decision to cut its gantry fuel price by 15.99 percent to N699 per liter, announced three days earlier. Nevertheless, as of Sunday night, pump prices in Abuja remained at N905 and N937 per liter, revealing a gap between the refinery’s price and retail levels.
Dangote Refinery’s capacity to produce 650,000 barrels per day is significant for a country historically dependent on fuel imports. Its operations are expected to reshape Nigeria’s fuel market and disrupt importers’ business models. As the refinery continues to supply the local market, it remains to be seen how importers will adapt to the changing landscape.
The Nigerian government has been working to boost domestic fuel production and reduce reliance on imports, with Dangote Refinery playing a central role in this strategy. Industry stakeholders and consumers are closely monitoring its impact, and fuel prices and availability are likely to remain prominent topics of discussion in Nigeria.
