Dangote Petroleum Refinery has cut petrol’s ex-gantry price to ₦774 per litre.
This change reduces the previous rate by ₦25, bringing immediate relief to consumers.
Dangote Petrol Price Cut Announcement
Moreover, the company confirmed the adjustment nationwide on Tuesday.
Consequently, marketers received instructions about the new price, making locally refined petrol more cost-effective than imports.
Dangote highlighted that imported PMS from Lome currently costs around ₦793 per litre.
Therefore, domestic fuel now offers a cheaper, more competitive option for Nigerian motorists.
Local Fuel Advantage
Earlier this year, the refinery warned about rising coastal fuel logistics costs.
For example, in February, it said relying on coastal distribution could push pump prices to ₦1,000 per litre.
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Additionally, transportation and operational expenses for coastal imports could cost an extra ₦1.75 trillion annually.
By keeping ex-gantry prices lower than imports, Dangote encourages Nigerians to buy local petrol.
Industry experts note that competitive local pricing may reduce the country’s import bills and improve the trade balance.
It may also motivate other local refiners to adopt similar pricing strategies.
Impact On Consumers
As a result, retail petrol prices nationwide are likely to drop as marketers pass savings to consumers.
Dangote Refinery, based in Lagos, produces 40–50 million litres daily and continues operating at full capacity.
The facility can refine up to 650,000 barrels per day, maintaining stable production.
Earlier this year, NNPC raised petrol prices to ₦839 per litre in Abuja and ₦835 in Lagos.
Thus, Dangote’s price cut gives motorists relief while reinforcing the importance of domestic refining.
Ultimately, this move demonstrates how local production can reduce fuel scarcity, curb price volatility, and lower import dependence.
