Finance
Dangote Refinery Lowers Petrol Price to N875–N905 Nationwide
Dangote Refinery has announced a fresh downward review of Premium Motor Spirit (PMS) pump prices across Nigeria with rates now ranging from ₦875 to ₦905 per litre depending on location.
The revision represents a ₦15 reduction per litre and is applicable across all regions and designated retail outlets in partnership with the refinery.
In a statement posted Thursday on the company’s official social media channels, Dangote Refinery attributed the price adjustment to the return of a refund benefit policy for distributors and highlighted its continued commitment to affordability, price stability and consumer protection.
Under the revised pricing structure, Lagos residents will now pay ₦875 per litre while rates in the North-East and South-South zones have been adjusted to ₦905 per litre.
The company urged Nigerians to patronise only its authorised fuel distribution partners, which include MRS, Ardova, Heyden, Optima Energy, Techno Oil and Hyde Energy and to report non-compliant stations through its official hotline.
“Our quality petrol and diesel are refined for better engine performance and are environmentally friendly,” the company said in the notice, while also reiterating that the price drop was made possible through its naira-for-crude exchange model, a cost-efficiency strategy that enables price moderation.
The downward price review follows recent developments in Nigeria’s downstream sector, where independent oil marketers have resumed large-scale importation of PMS, driven by favourable offshore supply conditions.
Data sourced from the Tanker Position Report compiled by Blue Sea Maritime revealed that over 370,000 metric tonnes of petrol—equivalent to 496.17 million litres—were offloaded between May 11 and May 20, 2025, at various depots across the country.
Earlier this week, Dangote Refinery reaffirmed its strategic positioning within Nigeria’s domestic fuel supply chain, with the 650,000 barrels-per-day facility maintaining that it will continue to play a stabilising role in fuel pricing, despite global crude oil volatility.
In a statement signed by Anthony Chiejina, Group Chief Branding and Communications Officer, the company stated: “Despite fluctuations in global crude prices, our focus remains on ensuring affordable and stable fuel prices. This decision aligns with our vision to support economic growth and reduce the financial burden on Nigerian consumers.”
The refinery has implemented multiple rounds of PMS price reductions since it commenced distribution operations earlier in 2025. This recent adjustment further consolidates its market position as a key driver of downstream price equilibrium.
With pump price relief now visible at key urban and regional locations, market analysts anticipate improved retail competition in the weeks ahead.
However, broader downstream dynamics—such as foreign exchange availability, crude pricing and government policy direction—remain influential in determining medium-term fuel affordability.
The latest pricing development reaffirms Dangote Refinery’s role as both a price leader and a strategic industrial asset in Nigeria’s quest to reduce import dependency and enhance domestic energy security.
