Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (AGO), also known as diesel, in a move expected to influence fuel prices across Nigeria.
Under the revised pricing, the refinery reduced the ex-depot price of petrol to ₦1,165 per litre, while diesel will now sell for ₦1,570 per litre. The new prices take immediate effect and are expected to be reflected at filling stations supplied by the refinery, subject to marketers’ distribution and retail margins.
The latest price adjustment comes amid ongoing efforts by the 650,000-barrel-per-day refinery to increase domestic fuel supply and enhance competition in Nigeria’s downstream petroleum sector. Industry analysts say the reduction could ease transportation and logistics costs if marketers fully pass on the savings to consumers.
Dangote Refinery has implemented several price reviews in recent months in response to changes in global crude oil prices, foreign exchange movements and market conditions. The company has maintained that its pricing strategy is aimed at ensuring adequate supply while supporting affordability for consumers and businesses.
The refinery, located in the Lekki Free Zone in Lagos State, commenced commercial production of petrol in 2024 after initially producing diesel, aviation fuel and other refined petroleum products. Since then, it has become a major supplier to the Nigerian market, reducing the country’s dependence on imported refined products.
Industry stakeholders are expected to monitor how quickly independent and major marketers adjust pump prices in response to the new ex-depot rates. Retail prices may vary across locations depending on transportation costs, distribution expenses and individual marketers’ pricing policies.
The latest reduction follows a series of pricing adjustments by the refinery as competition intensifies in Nigeria’s deregulated downstream oil market. Analysts say sustained domestic refining capacity could help moderate fuel price volatility over the long term while improving energy security and reducing pressure on foreign exchange demand.
