Business
Depot Price Hike: Marketers Jostle To Take Advantage Of Dangote Refinery’s Bulk-Purchase Incentives
Attracted by the bulk-purchase agreement incentives being offered by the Dangote Petroleum Refinery, more oil marketers in Nigeria are jostling to be listed as beneficiaries of the agreement.
The leading conglomerate made the disclosure in a statement on Friday, in Lagos.
It was gathered that the bulk-purchase agreement, the petroleum marketers reasoned, offers a guaranteed price stability as against purchase from depot owners whose price is opened to incessant upward review as has just been announced.
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Recall that two prominent players in Nigeria’s downstream oil and gas sector – Ardova Plc and Heyden Petroleum – have entered into a bulk purchase agreement with the Dangote Petroleum Refinery after MRS; a situation they have leveraged on to sell petroleum at a much cheaper pump price.
The depot owners recently jerked up their loading price to N950 per liter from N909 citing increase in the price of crude oil in the international market, a situation that has forced most independent marketers to raise their pump price too to reflect the new higher price from the depot owners.
The Independent marketers are referring to the benefits of the bulk-purchase agreement with Dangote Refinery as being enjoyed by the three leading oil marketers, MRS, Ardova Plc and Heydey who have entered into the purchase agreement with Dangote refinery and are able to retain their lower pump price.
National President of Independent Petroleum Marketers Association (IPMAN), Alhaji Abubakar Maigandi Garima confirmed that the association members’ eagerness to sign on with Dangote Refinery and that they have been advised to do so by organizing themselves to pool resources together to be able to qualify for the bulk-purchase agreement.
Justifying the IPMAN new position, he said members could not continue to depend on depot owners for products when they can buy directly from the refinery bearing in mind that the minimum quantity to buy from Dangote Refinery is two million litres at N909 per litre.
The management of the Dangote Refinery citing economic relief provided by President Bola Ahmed Tinubu’s crude-for-naira swap initiative had announced a bulk-purchase offer incentives to the three leading downstream sector operators, so that Nigerians could heave a sigh of relief on the reduced pump price.
As the MRS, Ardova Plc and Heyden keyed into the arrangement, other petroleum marketers besieged the Refinery in Ibeju-Lekki, Lagos, seeking to be part of the bulk purchase deal, which guarantees steady supply of petroleum products and at competitive prices.
The desire to be part of the bulk-purchase agreement, it was also gathered, was also apparently being fueled by the testimonies from motorists who have been praising the impressive burn rate of fuel sourced from Dangote Refinery and sold in MRS filing stations which they said lasts longer compared to other products imported into the country and sold by others.
Dangote Refinery had said the strategic move was designed to further stabilise the nation’s fuel market and enhance energy security for consumers, as it would guarantee steady supply of petroleum products at affordable prices.
The bulk purchase agreement incentive by Ardova and Heyden came on the heels of a drop in the pump price of petrol by the management of MRS Oil Nigeria Plc, which had previously entered into a similar agreement with Dangote Refinery.
As a result, MRS Oil lowered its fuel prices to N935 per litre across all its stations nationwide, addressing the long-standing issue of price disparities between states. Furthermore, MRS Oil’s stock surged to a new 52-week high recently, as investors became increasingly optimistic about the company’s future earnings prospects.
Reports indicate that the bulk purchase agreement with Dangote Petroleum Refinery had also enabled both Ardova and Heyden to secure a reliable and consistent supply of petroleum products from the world’s largest single-train refinery at competitive prices, benefiting consumers across the country.
The arrangement ensures that Ardova and Heyden will have access to a full range of refined products, thereby securing their operations with a reliable supply chain. Other petroleum markers, reports said, are keen on signing similar agreement with Dangote Refinery as soon as they are allowed to, as most of them have majority of their filing stations in Lagos close to Dangote Refinery.
After signing the agreement, Ardova Plc, it would be recalled, had in a statement underscored the importance of this agreement in fostering a more competitive environment within Nigeria’s downstream oil and gas sector.
The partnership with Dangote Refinery is poised to have a positive, transformative impact on Nigeria’s oil and gas market. By ensuring a stable and affordable supply of fuel products in the over 1,000 retail outlets of the two companies, the agreement will help to alleviate the recurring issue of fuel scarcity that has long plagued Nigeria.
The NNPC Foundation Limited/Gte, the Corporate Social Responsibility (CSR) arm of the Nigerian National Petroleum Company Limited (NNPC Ltd), has won the CSR Champion Award (Health) 2025 instituted by the Independent Newspapers.
Biztellers reports that the award was presented during the Silver Jubilee edition of the Independent Newspapers Awards, themed “Game Changers: Breaking Barriers and Shaping Tomorrow,” held at Eko Hotel and Suites on Saturday, 18 April 2026.
The CSR Champion Award (Health) recognises the Foundation’s work in healthcare and its broader commitment to improving lives through social investment programmes spanning health, education, environment, and access to energy.Primary & Secondary Schooling (K-12)
The recognition follows a series of health initiatives delivered by the Foundation, including free cataract screening and surgeries that restored sight to over 6,000 Nigerians, including minors born blind; cancer and glaucoma interventions; medical outreaches to underserved communities; renovation and furnishing of three wards with 100 beds at the National Orthopaedic Hospital, Igbobi; partnership and sponsorship of heart surgeries; and provision of dental health accessories to children in special schools, among others.
The NNPC Foundation noted that these results were made possible through the leadership and support of the NNPC Ltd. Management team, whose commitment has continued to strengthen the Foundation’s capacity to deliver social investments across the country.
Reacting to the award, the Managing Director of NNPC Foundation, Emmanuella Arukwe, described the recognition as a validation of the Foundation’s work and the trust placed in it by Nigerians. She noted that the award means so much to the company because it represents the confidence Nigerians have placed in its work and the value they see in purposeful social investment.
“It speaks to the resilience of the communities we serve, the dedication of our team, and the strength of partnerships that have enabled us to do meaningful work in health, education, environmental sustainability and access to energy,” she added.
In addition, Arukwe noted that “these results have also been made possible through the leadership and support of the NNPC Ltd. Management team, whose backing has been instrumental to the success of the Foundation’s work. We receive this award with gratitude, and with a renewed sense of responsibility to do more and reach further across the country.”
The NNPC Foundation Limited/Gte remains committed to advancing health interventions that improve outcomes and contribute to national development.
The Nigerian National Petroleum Company Limited (NNPC Ltd), through its Research, Technology and Innovation (RTI) Division, in collaboration with the Petroleum Technology Development Fund (PTDF), has signed a Memorandum of Understanding (MoU) with Sonatrach, the Algerian National Oil Company, for cooperation in research, development, and innovation.
The agreement, signed by NNPC Ltd’s Executive Vice President, Business Services, Sophia Mbakwe, and Sonatrach’s Managing Director, Khodjah Mohamed, establishes a formal framework for joint work in research and technology exchange between the two national oil companies.
This was contained in the press statement issued on Thursday by Chief Corporate Communications Officer Mr. Andy Odeh.
According to the statement, the agreement, held during the opening ceremony of the 3rd Meeting of the African Petroleum Producers’ Organization (APPO) Forum for R&D Directors at the PTDF Tower in Abuja, Nigeria, brought together research and development directors from APPO member countries.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, represented by former Secretary General of APPO, Omar Farouk Ibrahim, said the forum was one of four measures introduced by APPO to address challenges from the global energy transition, which center on funding, technology, and markets.
“The R&D forum tackles technology and expertise needs, the African Energy Bank addresses funding constraints, and the Central African Pipeline System supports regional oil and gas market integration,” Lokpobiri stated.
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Earlier in his remarks, Group Chief Executive Officer, NNPC Limited, Engr. Bashir Bayo Ojulari, represented by the Company’s Chief Financial Officer, Adedapo Segun, said research and development must form a central part of the overall strategy in the African oil and gas industry.
He called for research and development centres to function as engines of industrial competitiveness. “Collaboration in research and development is of strategic importance. The cost of innovation might be high, but the cost of obsolescence would be greater,” he stressed.
Ojulari called for a unified strategic framework through which resources could be pooled, data integrated, and risks shared across member countries.
He further urged the rapid adoption of digital technologies, artificial intelligence, and advanced engineering to improve upstream, midstream, and downstream operations.
On his part, the APPO Secretary General, Farid Ghezali, urged African petroleum-producing countries to ensure research in the oil and gas sector produced solutions that are practical and directly relevant to the continent. “We must ensure that our research delivers solutions that are practical and of direct use to Africa,” he stated.
Also speaking, the Executive Secretary of the Petroleum Technology Development Fund (PTDF), Prof. Shu’aibu Shehu Aliyu, highlighted the value of the partnership between NNPC Limited and PTDF in supporting decarbonization and environmental protection efforts across APPO member countries.
Chief Innovation Officer of NNPC Research, Technology and Innovation and incoming Chairman of the APPO R&D Directors Forum, Rasheed Ojulari, said the forum would give immediate priority to joint programs in the core areas of upstream optimization, artificial intelligence, decarbonisation processes, and industrial systems development.
The Nigerian Gas Association (NGA), has opined that a predictable fiscal and regulatory environment are ingredients essential to de-risking investments and accelerating project delivery in the oil and gas sector.
This was detailed in a statement released by NGA at the end of its maiden Legal Forum emphasised that investor confidence will be shaped by the robustness of commercial and contractual structures across the gas value chain, strengthened contractual clarity, and efficient dispute resolution mechanisms.
In his opening address, President of the NGA, Aka Nwokedi, underscored the urgency of aligning Nigeria’s legal architecture with its strategic gas ambitions, noting that the sector’s next phase of growth will be defined by the strength, clarity, and credibility of its regulatory environment.
“Nigeria’s gas resources present a defining opportunity for economic transformation, but realising this potential will depend on building a legal framework that is transparent, predictable, and globally competitive”, he stated.
Discussions throughout the Forum reflected a clear and consistent theme: that Nigeria’s opportunity now lies in execution.
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While the Petroleum Industry Act (PIA) has established a transformative foundation for sector reform, participants emphasised that its true impact will be determined by disciplined implementation, regulatory coherence, and institutional alignment.
The need to eliminate ambiguity and strengthen enforcement emerged as central to unlocking sustained investment.
As global energy systems continue to evolve, the Forum reinforced natural gas as Nigeria’s most strategic lever for balancing economic growth, energy security, and emissions reduction. Participants highlighted that legal and regulatory frameworks must evolve accordingly, moving beyond policy intent to embed clear, enforceable standards on carbon management, ESG obligations, and sustainability.
“In an increasingly competitive global market, such clarity will be critical in attracting long-term capital.”
The Forum also acknowledged the policy direction of the administration of President Bola Ahmed Tinubu in advancing gas development through infrastructure expansion and increased domestic utilisation.
Stakeholders noted that sustained policy stability will serve as a critical signal to both domestic and international investors evaluating long-term opportunities in Nigeria’s gas sector.
Beyond its technical depth, the NGA Legal Forum marked an important step in bridging the longstanding gap between legal frameworks and industry realities, creating a structured platform for continuous engagement, practical alignment, and forward-looking policy development.
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