Motorists at the NNPC Retail outlet on Awolowo Road in Lagos are now paying N1,205 per litre for petrol, a price that undercuts most other filling stations across the country, which are charging between N1,230 and N1,250 per litre. This follows a drop in depot prices recorded on August 14 at several locations, including Lagos, Port Harcourt, Calabar and Warri.
NNPC's Price Advantage in Lagos and Abuja
The NNPC outlet along Awolowo Road in Lagos is selling petrol at N1,205 per litre, well below the N1,230 to N1,250 range that most other filling stations are charging. The state-owned company's outlet at Ushafa Bridge in Abuja sells at N1,250 per litre, reflecting price differences even within NNPC's own retail network.
Prices at other major marketers show a tight clustering in the mid-to-upper end of the range. First Royal sells at N1,230 per litre, TotalEnergies at N1,232, and Mobil at N1,234. Conoil and MRS charge N1,236 and N1,238 respectively, while Rainoil quotes N1,240. NIPCO sells at N1,246 and Oando at N1,248 per litre.
Current Filling Station Petrol Prices
- NNPC – Awolowo, Lagos: N1,205
- First Royal: N1,230
- TotalEnergies: N1,232
- Mobil: N1,234
- Ardova: N1,234
- Conoil: N1,236
- MRS: N1,238
- Rainoil: N1,240
- NIPCO: N1,246
- Oando: N1,248
- NNPC – Ushafa Bridge, Abuja: N1,250
The current figures mark a significant fall from the previous average of about N1,310 per litre, offering some relief to motorists and commercial transport operators.
Depot Prices Across Key Locations
Petrol depot prices recorded on August 14 showed reductions across Lagos, Port Harcourt, Calabar and Warri. In Lagos, Dangote Refinery's depot price came in at N1,166 per litre, down N2 from the previous rate. Petroleumprice.ng reports that MRS quoted N1,167, while 11 PLC and Nipco both sold at N1,170. Aiteo sold at N1,175, and several other suppliers including African Terminal, Ardova, Bono, Pinnacle and Pivot were mostly around N1,180. Integrated quoted N1,179, representing an N11 reduction.
In Port Harcourt, Bulk Strategic, Liquid Bulk and Sigmund each sold at N1,197 per litre, with Bulk Strategic and Liquid Bulk each down N8. Matrix sold at N1,205, a N7 reduction. In Calabar, Fynefield and Hong Petroleum both sold at N1,180 per litre, each down N18. Jenny quoted N1,182, Mainland at N1,190, Northwest and Sobaz at N1,183, and Soroman at N1,180 after an N18 cut. In Warri, Matrix, Nepal and Parker all quoted N1,205 per litre, with Parker reducing its price by N10.
What the Price Gap Means for Buyers
For a motorist in Lagos purchasing 50 litres at the N1,205 NNPC Awolowo outlet, the saving works out to N1,250 compared with a station selling at N1,230, and N2,250 compared with a station charging N1,250. The closing gap between depot and retail prices points to growing competition among marketers as they respond to lower supply costs. Pump prices can still vary widely between outlets within the same city depending on location, transport logistics and individual supply arrangements.
Earlier, Legit.ng reports indicate that the Dangote Petroleum Refinery confirmed its ability to meet Nigeria’s fuel needs, highlighting a daily petrol supply capacity of 75 million litres, exceeding the estimated national demand of 50 million litres. The refinery also stated it could produce 25 million litres of diesel daily, surpassing the estimated demand of 14 million litres, along with 20 million litres of aviation fuel, well above domestic consumption. According to the company, this surplus capacity is expected to stabilise the market, reduce dependence on imports, and strengthen the country’s downstream fuel supply chain.
