An Dangote Petroleum Refinery has reduced its ex-gantry price of Premium Motor Spirit (PMS), also known as petrol, from N1,125 per litre to N1,075 per litre, marking its second price cut in one week.
The latest reduction of N50 per litre, representing a 4.4 per cent decrease, lowers the refinery’s petrol price from N1,175 per litre to N1,125 per litre, and now to N1,075 per litre. The move is expected to intensify competition in Nigeria’s downstream petroleum market and could lead to lower pump prices for consumers
The refinery has also aligned its coastal loading price with the new ex-gantry price of N1,075 per litre, eliminating the previous pricing difference between coastal and gantry sales.
According to a senior official at the refinery, the revised pricing took immediate effect as part of efforts to make petroleum products more competitive and accessible to marketers.
The official also disclosed that the refinery has ended its 20-member consortium arrangement, allowing all qualified petroleum marketers to load products directly from both its gantry and coastal terminals.
The decision is expected to improve market access, increase product availability, and support more efficient nationwide distribution of petrol.
Industry checks also confirmed the new ex-depot price of N1,075 per litre, raising expectations that filling stations sourcing fuel directly from the refinery may reduce their retail pump prices in the coming days.
The development comes as competition continues to grow within Nigeria’s deregulated downstream petroleum sector.
Earlier this week, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, reiterated that petrol prices in a deregulated market would be determined by competition and market forces rather than government intervention.
He noted that increasing domestic refining capacity would encourage competitive pricing, strengthen energy security, and improve fuel supply across the country.
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The Nigerian Midstream and Downstream Petroleum Regulatory Authority has also maintained that fuel prices should remain cost-reflective under the deregulation policy while warning operators against profiteering and arbitrary pricing practices.
Dangote Refinery Cuts Petrol Price
For transport businesses, logistics operators, manufacturers, and other MSME that rely heavily on fuel, the latest price reduction could help lower operating costs if retail pump prices decline in response.
