The Dangote Petroleum Refinery and Petrochemicals has announced a reduction in the gantry price of premium motor spirit (PMS), commonly known as petrol, to ₦1,200 per litre.
The disclosure was made on Friday by the spokesperson for the Dangote Group, Anthony Chiejina, who explained that the refinery also set its coastal price at ₦1,153 per litre.
According to Chiejina, the adjustment represents a downward review of the refinery’s pricing structure and is expected to influence fuel supply costs across Nigeria’s downstream sector.
“Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for petrol to ₦1,200 per litre and its coastal price to ₦1,153 per litre,” he said.
“The adjustment marks a downward review in the refinery’s pricing structure and is expected to impact supply costs across distribution channels.”
The new rate reflects a ₦75 reduction from the previous price of ₦1,275 per litre. The refinery had earlier adjusted its price upward in recent weeks, moving from ₦1,175 to ₦1,245 per litre before this latest cut.
Chiejina noted that the price drop could have a ripple effect on retail fuel prices, as lower ex-depot costs often translate to more affordable pump prices for consumers.
“Lower ex-depot prices typically translate into reduced pump prices,” he added.
He also linked the pricing decision to ongoing volatility in the global oil market, particularly tensions in the Middle East, which continue to disrupt supply chains and increase shipping and insurance costs.
“The Middle East crisis has introduced renewed uncertainty into global oil markets, affecting shipping routes, insurance premiums, and supply chains,” he said.
Despite these external pressures, Chiejina emphasized that Nigeria’s growing local refining capacity could help cushion the impact of global shocks.
“For Nigeria, the presence of large-scale local refining capacity is increasingly seen as a stabilising factor,” he stated.
