Dangote Refinery has announced a significant expansion of its fuel distribution network by partnering with Optima Energy, adding to its existing partners MRS Nigeria, Ardova PLC, and Hyden. This move is part of the refinery's strategy to ensure widespread availability and affordability of its petrol across Nigeria.

The $20 billion refinery, which began operations recently, has already made a significant impact on the fuel market in Nigeria. Since its launch, competition among industry players has increased, leading to more affordable fuel prices for consumers. The removal of the fuel subsidy has also contributed to the decrease in prices.

In February, the refinery reduced the ex-depot price of Premium Motor Spirit (petrol) twice, first by N60 per litre at the beginning of the month, and again by N65 per litre, bringing the price down from N890 to N825 per litre. According to the company, "This strategic price adjustment is intended to ease the financial burden on Nigerians, particularly in anticipation of the Ramadan season, while also supporting President Bola Ahmed Tinubu's economic recovery initiatives."

The current petrol prices at different stations vary slightly. At MRS stations, Dangote petrol is sold at N860 per litre in Lagos, N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East. AP (Ardova Petroleum) stations have slightly higher prices, with N865 per litre in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East. Heyden stations, which also distribute Dangote petrol, have the same prices as AP. Optima Energy, the newest distributor, will be selling at the same rates as Heyden stations.

The impact of Dangote Refinery's price reduction was felt across the industry, with the Nigerian National Petroleum Company Limited (NNPCL) following suit on Monday by announcing a price cut, lowering the pump price of petrol from N920 to N860 per litre. This move is expected to further increase competition and drive down prices for consumers.

The partnership with Optima Energy is a significant development in the Nigerian fuel market, and it will be interesting to see how this affects the industry in the long run. With Dangote Refinery's commitment to ensuring widespread availability and affordability of petrol, this move is likely to have a positive impact on the Nigerian economy.

As the fuel market continues to evolve, it will be important to monitor the effects of this partnership and the ongoing competition among industry players. With the refinery's focus on supporting President Tinubu's economic recovery initiatives, this development could have far-reaching implications for the Nigerian economy.