Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit ,PMS, popularly known as petrol, by N30 per litre. The price has dropped from N850 to N820 per litre.
Dangote Petroleum Refinery, Africa’s largest refinery and a key player in Nigeria’s oil sector, has taken a decisive step to ease the financial burden on consumers by cutting the ex-depot price of petrol by N30, from N850 to N820 per litre. This price adjustment took effect starting Tuesday, August 12, 2025, and is part of the refinery’s commitment to fostering national development and ensuring a steady, uninterrupted supply of petroleum products.
According to Anthony Chiejina, the Dangote Group Chief Branding and Communications Officer, this move reflects a strategic response to recent fluctuations in global crude oil prices, which have seen a decline amid anticipated lower demand. The refinery, with a capacity of 650,000 barrels per day, plays a crucial role in stabilizing fuel supply, easing foreign exchange pressure, and ultimately reducing fuel costs within Nigeria.
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The reduction in ex-depot prices by Dangote is likely to prompt oil marketers to reduce pump prices, potentially bringing the retail cost of petrol below the N900 per litre mark in major cities like Lagos and Abuja. Market observers anticipate new pump prices could range around N865 in Lagos and about N875 in surrounding states, marking a welcome decrease from current rates that have spiked above N900 in many areas.
Beyond price cuts, Dangote Petroleum Refinery is also advancing its fuel distribution framework by commencing the phased deployment of 4,000 compressed natural gas (CNG)-powered trucks from August 15, 2025. This initiative aims to modernize and streamline fuel distribution across Nigeria, reducing transportation costs and contributing to more stable fuel prices nationwide.
Industry stakeholders, including the Nigerian Labour Congress, have lauded the refinery’s efforts as transformative and vital in bridging Nigeria’s fuel supply gap, boosting employment, and restoring public confidence in the country’s industrial capacity.
As the Dangote Refinery leads the charge in pricing and distribution reforms, Nigerians can expect more consistent fuel availability and potentially significant savings at the pump in the coming weeks, contingent on downstream marketers passing on the cost benefits.
This price cut comes amid a broader backdrop of rising fuel costs, where the Nigerian National Petroleum Company Limited recently increased its pump prices, demonstrating the impact that Dangote’s competitive pricing strategy could have in the market.
The Dangote Refinery’s proactive approach to price management and operational excellence underscores its crucial role in Nigeria’s energy sector and signals positive developments for consumers and the economy at large.
THE CONCLAVE
