The Nigerian National Petroleum Company (NNPC) Limited is expected to maintain the current pump price of Premium Motor Spirit (PMS), commonly known as petrol, across its retail stations nationwide this week. This decision comes despite recent appreciations in the price of crude oil in the international market, which had raised fears of a potential hike in the cost of refined products.
Global Oil Fluctuations Fail to Trigger Local Price Change
Reports from global financial markets indicated that Brent crude, the international benchmark, recently traded above $66 per barrel. This upward movement, mirrored by other oil grades, typically signals increased costs for importing refined petroleum. However, checks conducted on Monday, January 19, 2026, confirm that the NNPC has no immediate plans to adjust its retail pricing template.
Industry analysts attribute this price stability to a significant shift in the domestic supply landscape. The operational presence of the Dangote Petroleum Refinery has introduced a new competitive dynamic, compelling other players to adjust their strategies to retain market share.
Depots Slash Wholesale Prices to Compete with Dangote
In a strategic move to remain competitive, several petroleum product importers and depot operators have significantly reduced their wholesale prices. Findings reveal that the average ex-depot price for petrol in Lagos and other major cities has dropped to approximately N702 per litre. This marks a notable decrease from the previous rate of around N750 per litre.
This downward adjustment is a direct response to the Dangote Refinery's ex-gantry price of N699 per litre. The trend was not isolated to Lagos; similar price reductions were observed in coastal supply corridors like Calabar, indicating a broad market reset initiated by the refinery's pricing power.
Data from PetroleumPriceNG shows that Nigeria's downstream market closed the third trading week of January 2026 on a softer note, with PMS depot prices weakening in key locations.
State-by-State Breakdown: Lagos Cheapest, Gombe Most Expensive
Current retail checks paint a vivid picture of the price disparity across the country. Lagos State retains its position as the cheapest location to purchase petrol from NNPC stations, with motorists now paying about N785 per litre, a reduction of N35 from earlier rates.
On the opposite end of the spectrum, Gombe State records the highest pump price nationwide at a steep N965 per litre. The Federal Capital Territory, Abuja, sells petrol at N815 per litre.
Other states and their current NNPC petrol prices include:
- Delta: N800
- Kaduna, Plateau, Sokoto: N825
- Rivers: N795
- Kano: N832
- Akwa Ibom and Cross River: N910
- Niger: N955
MRS Oil Nigeria, leveraging its partnership with the Dangote Refinery, has emerged as a key competitor, often offering petrol at prices cheaper than the NNPC in several locations. The company is controlled by Sayyu Dantata, a half-brother to Aliko Dangote.
The overall market scenario suggests that while global crude prices are a factor, local competition and supply chain efficiencies are now playing a more decisive role in determining petrol costs for the average Nigerian consumer.
