Some independent marketers working with Dangote Refinery are expected to lower the pump prices of Premium Motor Spirit (PMS) below N739 per litre in the near future, according to sources speaking to The Nation on Wednesday.

The refinery recently launched virtual training sessions for the staff of affiliated retail outlets, and the next step will be the free direct delivery of petrol to these stations.

New Partnerships with Dangote Refinery

Several companies, including MRS, Ardova Petroleum (AP), Garima, Heyden, and Optimal, are partnering with Dangote Refinery. These affiliates are preparing to distribute refined petrol directly from the refinery.

Previously, in December, it was reported that all partners—except MRS—had not yet started selling petrol at the refinery’s rates, as they were still waiting for direct deliveries from Dangote Refinery.

Potential for Lower Petrol Prices

In a phone conversation with The Nation, Alhaji Abubakar Maigandi, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), suggested that some independent marketers who begin receiving direct deliveries from Dangote may sell petrol below the N739 per litre rate.

Maigandi explained that the N699 per litre gantry rate at the refinery creates a profit margin of more than N25 per litre, which allows marketers to offer more competitive prices. “With the N699/l gantry rate, there is a profit margin that makes it feasible for some marketers to adjust their prices and sell below N739/l in a competitive market,” he said.

Current Petrol Price Trends

The petrol price in the Federal Capital Territory (FCT) has been fluctuating between N739 and N930 per litre. MRS is selling at N739 per litre, while other marketers, such as A.A. Rano, are selling at N840 per litre, Total at N920 per litre, and other independent marketers are pricing it as high as N930 per litre.

Despite these price variations, petrol has remained accessible from most retail outlets in line with market trends.