Dangote Refinery Lowers PMS Price for Second Time in One Week

Dangote Refinery has implemented a fresh downward adjustment in the ex-depot price of Premium Motor Spirit (PMS), the second reduction within a week.

Effective immediately, the ex-depot price of PMS, commonly referred to as petrol, has been reduced from ₦840 per litre to ₦820 per litre.

This follows a previous price cut from ₦880 per litre to ₦840 per litre announced just last week.

Group Chief Branding and Communications Officer, Anthony Chiejina, confirmed the new price in a statement issued in Lagos on Tuesday.

He emphasised that the latest adjustment reflects Dangote Refinery’s commitment to ensuring steady and affordable supply of petroleum products across Nigeria.

The refinery’s consistent pricing reviews come against the backdrop of recent fluctuations in global crude oil prices, including the volatility caused by the recent 12-day geopolitical crisis in the Middle East which temporarily elevated international crude benchmarks.

With its new pricing, Dangote Refinery has continued to attract more independent marketers into its expanding distribution network. Existing downstream partners such as MRS Oil, Heyden Petroleum, Ardova (AP), Hyde Energy, Optima Energy Resources and Techno Oil have been joined by additional marketers, including TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., Soroman Nigeria Ltd., Jezco Oil Nigeria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest and Mamu Oil, among others.

These partners are expected to reflect the new ex-depot price at their retail outlets nationwide, offering relief to end-users amid persistent energy cost pressures.

Dangote Refinery, the world’s largest single-train refinery, continues to strengthen its domestic market footprint with initiatives designed to reduce pump prices and ease inflationary pressures.

In line with its broader strategy, the company recently disclosed an investment exceeding ₦720 billion to deploy 4,000 Compressed Natural Gas (CNG)-powered trucks for fuel distribution nationwide. This move is projected to save Nigerians over ₦1.7 trillion annually by eliminating significant transportation costs for fuel marketers and bulk consumers.

The company noted that the new CNG-powered fleet will absorb an estimated ₦1.07 trillion yearly in distribution expenses while supporting over 42 million Micro, Small and Medium Enterprises (MSMEs) through lower energy costs and enhanced profitability.

Furthermore, Dangote Refinery has announced plans to commence direct delivery of PMS and diesel to filling stations, industrial facilities and large-volume consumers from August 15, in a bid to further stabilise supply chains and reduce pump prices across the country.

The sustained downward adjustment in ex-depot prices aligns with Dangote Group’s strategic focus on leveraging scale, modern infrastructure and efficient logistics to deliver competitive energy solutions to Nigerians.