The Dangote Petroleum Refinery and Petrochemicals has announced a reduction in its ex-depot (gantry) price of premium motor spirit (PMS), commonly known as petrol, to 1,200 Naira per litre.
In a statement released on Friday, the Dangote Group’s spokesperson, Anthony Chiejina, also revealed that the refinery adjusted its coastal price to 1,153 Naira per litre. The move is expected to impact fuel distribution costs across Nigeria’s downstream sector.
The latest adjustment reflects a 75 Naira reduction from the previous gantry price of 1,275 Naira per litre, signaling a downward revision in the refinery’s pricing framework. Industry watchers say the change could influence depot pricing and eventually retail pump prices nationwide.
Chiejina noted that the development comes amid ongoing volatility in the global oil market, largely driven by geopolitical tensions in the Middle East, which continue to affect supply chains, shipping routes, and insurance costs.
He explained that the revised pricing structure could ease supply costs for marketers, particularly those sourcing petroleum products locally, and may reduce reliance on imports.
“With lower ex-depot prices, there is a likelihood of corresponding adjustments at the retail level,” he stated.
The refinery’s coastal price of 1,153 Naira per litre is also expected to benefit distributors operating along Nigeria’s southern corridors, offering an alternative supply route through marine deliveries to coastal depots.
Chiejina added that Nigeria’s growing local refining capacity, particularly with large-scale facilities like Dangote Refinery, is increasingly serving as a buffer against external market shocks, even as global uncertainties persist.
