Dangote Petroleum Refinery has reduced its ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, from N1,275 per litre to N1,250 per litre, marking a N25 reduction amid declining global crude oil prices.

The price adjustment was confirmed on Saturday by a senior official of the Dangote Group, who attributed the move to recent developments in the international oil market. According to the official, the reduction reflects the easing of crude oil prices globally, although market conditions remain volatile.

The latest review is expected to influence fuel pricing across Nigeria’s downstream petroleum sector, particularly among marketers that source products directly from the refinery. Industry observers say the reduction could provide some relief to consumers if marketers pass on the lower costs through reduced pump prices.

Recent months have seen significant fluctuations in domestic fuel prices, driven largely by movements in global crude oil markets and changes in supply dynamics. Petrol pump prices in several parts of the country have risen sharply, with some locations recording prices of around N1,300 per litre.

The Dangote Refinery, located in Lekki, Lagos State, is Africa’s largest refinery, with a processing capacity of 650,000 barrels of crude oil per day. Since commencing petrol production, the facility has become a major supplier to Nigeria’s domestic fuel market and a key player in efforts to reduce the country’s reliance on imported refined petroleum products.

Market analysts will be watching closely to see whether the latest reduction triggers broader price adjustments among fuel depots and retail outlets across the country in the coming days.