- Fuel station owners have adjusted their petrol pump prices to reflect the recent changes in pump prices
- Checks by Legit.ng show that most filling stations visited have reduced their prices, following Dangote's reduction of the ex-depot price
- MRS Oil Nigeria Plc continues to sell petrol at the cheapest price in Lagos, while many others are selling for around N945
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Major oil marketers in Nigeria have adjusted their pump prices for Premium Motor Spirit (PMS) also known as petrol following recent developments in the petroleum sector.
Several retail stations visited showed that the fuel pump price is no longer selling at N970 per litre. Premium Motor Spirit (Petrol)
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Legit.ng visited several filling stations in Lagos, including Ardova, MRS, Mobil, NNPC Limited Retail, and Petrocam, among others.
Most of the filling stations are selling fuel between N925 and N950 per litre. For instance, an Ardova filling station in Ikotun has reduced its petrol pump price from N970 per litre to N950.
Similarly, Mobil and Matrix filling stations, which were selling at N960 per litre, have also reduced their prices.
Mobil now sells one litre of petrol at N945, while Matrix sells at N950. Total Energis sells at N949 while Petrocam sells at N960.
Punch reports that NNPC retail stations are selling fuel at N960 per litre in Lagos.
A fuel attendant Kunle confirmed the changes to Legit.ng:
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"For days now, we have reduced our prices to N945, so we are selling at the same price as NNPC."
Two filling stations sell fuel cheaper
Meanwhile, there are two filling stations selling petrol at lower prices than the NNPC Limited's official rate of N945 per litre in Lagos.
Checks by Legit.ng showed that the MRS filling station has set its pump price at N925 per litre, while the Heyden filling station is selling at N940 per litre.
The prices set by these two oil marketers represent a difference of N20 and N5 per litre, respectively, compared to NNPC's pump price.
MRS in a statement released on x said:
"If you notice any station selling above the listed price, we’re just a call or email away."
Here is MRS price breakdown by region
- Lagos – N925
- South West – N935
- North – N945
- South East – N955
Dangote reduces ex-depot fuel price
Legit.ng reported that Dangote Petroleum Refinery slashed the ex-depot price of PMS, commonly known as petrol, from N950 to N890, effective from Saturday, February 1, 2025.
According to Anthony Chiejina, the Group's Chief Branding and Communications Officer, the refinery's decision follows a previous adjustment on January 19 in response to increasing crude oil costs.
The refinery urges fuel marketers nationwide to ensure that these savings reach the Nigerian public directly. It reaffirms its commitment to supporting President Bola Tinubu's economic revitalization efforts, which prioritise Nigeria's self-sufficiency in refined petroleum products and aim to position the country as a key player in global oil exports.
