The Group Chief Executive Officer of NNPCL, Bayo Ojulari, has declared that the current fuel price war in Nigeria’s downstream petroleum sector is a positive development, promising cheaper petrol for consumers and a more competitive market Ripples Nigeria New Telegraph.
Key Highlights
Price crash: Petrol prices have dropped dramatically, from over ₦1,200 per litre in November 2024 to as low as ₦739 per litre in December 2025 New Telegraph.
Domestic refining shift: The ramp-up of the Dangote Refinery (650,000 barrels/day) and rehabilitation of NNPCL facilities has reduced Nigeria’s dependence on imports Ripples Nigeria.
Healthy competition: Ojulari emphasized that “where there is healthy competition, the buyers are the ultimate beneficiaries,” noting that market volatility is part of Nigeria’s transition Ripples Nigeria New Telegraph.
Marketers’ losses: Fuel marketers have reportedly suffered losses of up to ₦250 billion due to aggressive price cuts by Dangote Refinery, forcing some depots to shut down Business Hallmark.
Public demand: Nigerians are urging NNPCL to match Dangote’s lower rates, with expectations of further price drops thepinnacleng.com Pulse Nigeria.
Comparative Overview
Aspect | Details |
|---|---|
Current Price Range | ₦739 – ₦828 per litre (December 2025) New Telegraph Business Hallmark |
Previous Price | Over ₦1,200 per litre (November 2024) New Telegraph |
Key Players | NNPCL, Dangote Refinery, independent marketers |
Consumer Impact | Lower pump prices, increased affordability Ripples Nigeria New Telegraph |
Industry Impact | Heavy losses for marketers, closures of depots Business Hallmark |
Government Position | Supports competition, sees transition as necessary Ripples Nigeria New Telegraph |
Risks & Trade-offs
Short-term instability: Volatility in pump prices may cause uncertainty for businesses and consumers.
Market consolidation: Smaller marketers risk being pushed out, leaving dominance to NNPCL and Dangote Refinery.
Supply chain tension: Rapid price adjustments could strain logistics and credit facilities Business Hallmark.
Sources: Ripples Nigeria New Telegraph Business Hallmark thepinnacleng.com Pulse Nigeria
