Dangote Refinery has slashed its petrol ex-depot price to N835 per litre—undercutting importers by N33.33.
Importers now face daily losses of N466.62 million, totalling nearly N14 billion monthly, as cheaper local fuel edges them out.
“It’s good for Nigerians, but old-stock marketers will bleed,” said IPMAN’s Chinedu Ukadike.
PETROAN’s Dr. Billy Gillis-Harry slammed the move as “arbitrary,” warning it threatens market stability.
CORAN’s Eche Idoko says it’s a wake-up call: “Refining in Nigeria has come to stay.”
