The Dangote Petroleum Refinery has once again reduced the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, bringing it down from N840 to N820 per litre.
The latest adjustment marks the second price reduction within a week, following an earlier drop from N880 to N840 per litre, as the company responds to market realities and aims to cushion the burden on Nigerians.
Announcing the development on Tuesday, Group spokesperson, Mr. Anthony Chiejina, said the new price takes effect immediately.
“The price of PMS has been reduced from N840 to N820 per litre, effective immediately,” he said, adding that the move aligns with Dangote’s commitment to ensuring affordable and steady fuel supply across the country.
The company attributed the earlier reduction to volatility in the global crude oil market, which was triggered by a 12-day geopolitical crisis in the Middle East that spiked crude prices.
With the price cut, independent marketers are increasingly partnering with the refinery to retail its products nationwide. The growing network now includes major players such as TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, and others like 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.
Existing partners—MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil—are also expected to adjust their pump prices accordingly.
The Dangote Refinery, touted as the world’s largest single-train refinery, has been ramping up its local fuel distribution efforts, promising consistent supply and competitive pricing.
In a related move, the company disclosed that it has invested over N720 billion in the deployment of 4,000 Compressed Natural Gas (CNG)-powered trucks to distribute petroleum products across the country.
The initiative is projected to save over N1.7 trillion annually in fuel distribution costs for Nigerians and absorb up to N1.07 trillion yearly on behalf of marketers. It is also expected to impact over 42 million Micro, Small, and Medium Enterprises (MSMEs) by reducing energy costs and boosting profitability.
From August 15, the refinery will commence direct delivery of petrol and diesel to filling stations, industrial users, and high-volume consumers nationwide.
The company says the strategy will help reduce pump prices, ease inflationary pressures, and drive down logistics costs for fuel marketers and consumers alike.
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