The Dangote Petroleum Refinery has reduced the price of petrol again, bringing it down to ₦835 per litre. This is a ₦30 drop from the previous price of ₦865 per litre just six days ago.
This latest price slash marks the third time in less than six weeks that the refinery has lowered the ex-depot price of Premium Motor Spirit (PMS), also known as petrol.
A notice sent out to customers on Wednesday morning confirmed the new price. A pro forma invoice and checks on petroleumprice.ng also supported this development. The new amount includes the charges from the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
This move comes shortly after the landing cost of imported petrol fell to ₦853 per litre on Tuesday, raising hopes for more affordable fuel nationwide.
The Dangote refinery had earlier reduced its petrol price from ₦880 to ₦867 per litre last Thursday. An official from the company confirmed that the gantry price had dropped by ₦13 that day.
Filling stations with special supply deals, such as MRS Oil & Gas, Ardova Plc, and Heyden, are expected to reduce their pump prices as well—from around ₦925 to about ₦910 per litre.
The price reduction followed a meeting between officials of the Dangote Refinery and Nigeria’s Minister of Finance, Wale Edun, on Tuesday.
At the meeting, the government confirmed that the naira-for-crude initiative is still in place. It described the policy as a long-term plan to support local refining, not just a short-term solution.
The new refinery, which cost $20 billion to build, is already making a strong impact on the Nigerian fuel market. According to documents from the Nigerian Port Authority and the Major Energies Marketers Association of Nigeria, marketers received approval to import 117,000 metric tonnes of petrol between April 8 and 16—equivalent to about 156.9 million litres—to boost national supply.
