Some filling stations are now selling petrol at prices as low as N847 per litre, while Dangote partners sell at N865 or N875 in Lagos and Ogun States.
The development comes amid a call by Alhaji Aliko Dangote, President of the Dangote Group, for the Federal Government to ban fuel importation, citing unfair competition and dumping of toxic fuel.
However, marketers have disagreed with Dangote, urging the government not to add petroleum products to the list of items banned from importation under the 'Nigeria First' policy.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) described the price reduction as the beauty of market liberalization, saying it promotes competition and benefits consumers.