The Dangote petrol price cut has reduced the refinery’s ex-depot rate for Premium Motor Spirit from N1,215 to N1,165 per litre.
According to Punch, the Dangote Petroleum Refinery announced the new prices in a statement issued by the Dangote Group on Wednesday.
The company also reduced the ex-depot price of Automotive Gas Oil, commonly known as diesel, from N1,650 to N1,570 per litre.
The latest review represents a N50 reduction in the price of petrol and an N80 reduction in the price of diesel.
Dangote petrol price cut targets affordability
The refinery said the adjustment formed part of its efforts to make petroleum products more affordable and accessible across Nigeria.
It explained that the new pricing structure would support consumers, businesses and other sectors that depend heavily on petrol and diesel.
“Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit and Automotive Gas Oil,” the company said.
It added that the decision reaffirmed its commitment to supplying affordable and high-quality petroleum products to the Nigerian market.
The company said the price review would improve access to refined products and support economic activities nationwide.
Retail pump prices may differ
The announced rates are ex-depot prices, meaning they apply when marketers purchase products directly from the refinery.
The prices motorists pay at filling stations may differ because marketers usually include transportation, distribution and other operating costs.
Therefore, the reduction may not immediately result in petrol selling for N1,165 at every filling station.
Dangote Refinery said it remained committed to maintaining a stable supply of petroleum products while improving its operations.
It also promised to pass the benefits of greater operational efficiency to consumers whenever market conditions permit.
The refinery maintained that its operations would continue to strengthen Nigeria’s energy security and reduce dependence on imported refined products.
It added that increased local production would support businesses and contribute to the country’s broader economic development.
