Dangote cut petrol by ₦35 but Abuja pumps still sell at ₦1,420 as motorists demand a real cut

Photo: A petrol station attendant serves a motorcyclist in Ilorin · Source: Jamie Tubers / Wikimedia Commons (15 Nov 2017 file photo, CC BY-SA 4.0 — not the Abuja price checks)

Dangote Refinery cut its petrol gantry price by ₦35 a litre, but checks by the News Agency of Nigeria in Abuja on Sunday found pump prices unchanged at between ₦1,385 and ₦1,420 a litre, as motorists called on marketers to pass the cut on.

Dangote Refinery has cut its petrol gantry price from ₦1,250 to ₦1,215 per litre, a reduction of ₦35, but motorists in Abuja are yet to feel the difference at the pump.

Checks by the News Agency of Nigeria (NAN) in Abuja on Sunday found petrol still selling at between ₦1,385 and ₦1,420 per litre. AY Shafa sold at ₦1,399, Mabso at ₦1,385 and Empire Energy at ₦1,420, while Total and Rainoil both sold at ₦1,410.

Motorists told NAN the cut should reach the pump. Bala Usman of Mabuchi said the reduction should result in a significant decrease in filling-station prices and called on marketers to pass it on, while Adelaja Scott of Durumi urged marketers to reduce prices significantly, lamenting the rising cost of transport and other essentials. Ishiaku Baba said a reduction would bring relief to road users and other Nigerians, and Abubakar Waziri of Lokogoma called on marketers to ensure that reductions in their procurement and operating costs were passed on to consumers.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) said the cut might take a few days to reach the pump. Its National Publicity Secretary, Chinedu Ukadike, said marketers would review their pricing arrangements and remittances in line with the new supply costs, and that some tankers carrying products bought at previous prices were still in transit.

The picture is mixed across the country. Legit.ng reported that petrol at Lagos depots rose by an average of ₦41.43 per litre during the week, to about ₦1,279.43, with African Terminal, Integrated and A.A. Rano up ₦60 to ₦1,280 — even as Brent crude fell 4.85 per cent, from $104.77 to $99.69 a barrel. Diesel fell by an average of ₦33.12 per litre, to about ₦1,776.88.

NairaCheck’s live market reading on Sunday put the dollar at ₦1,347.33 (indicative) and the national average petrol price at ₦1,292.26 per litre.

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