The Dangote Petroleum Refinery reduced the pump price of Premium Motor Spirit (petrol) throughout the country, with new rates ranging from N875 in Lagos to N905 per litre in other regions of the country.
The new price regime, which marks a N15 reduction per litre in Lagos, was posted on Dangote Group’s official X (formerly twitter) handle on Thursday.
It applies to all major fuel marketers in partnership with the refinery, including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy.
In the earlier pricing template, Lagos residents paid N890 per litre, while prices rose to N920 in the North East and South-South regions.
With the new adjustment, Lagos residents will now pay N875, while those in the North East and South South will pay N905 per litre.
A breakdown of the revised prices shows Lagos: N875, South-West: N885, North-East: N905, North-West & Central: N895, and South-South & South-East: N905.
The Dangote Refinery urged consumers to purchase fuel only from its partner outlets and encouraged Nigerians to report non-compliance via its hotline: +234 707 470 2099 or +234 707 470 2100.
Back story
In mid-April, the Dangote Refinery reduced the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to N835 per litre, marking the second price cut in less than a week.
This is a N30 decline from the previous cost of N865 per litre, as well as a total N45 reduction from the refinery’s prior pricing of N880 per litre.
According to Anthony Chiejina, Dangote Group’s Chief Branding and Communications Officer, the revised pricing will apply to all partner retail shops.
The regional pump prices were announced as follows:
- Lagos: N890 per litre (down from N920) — key partners include MRS, AP (Ardova), Heyden, Optima Energy, Hyde, and Techno Oil.
- South-West: N900 per litre (down from N930)
- North-West & North-Central: N910 per litre (down from N940)
- South-East, South-South & North-East: N920 per litre (down from N950)
“These price reductions reaffirm our commitment to providing high-quality petrol at affordable rates, benefiting consumers across the nation,” the statement emphasized.
This change came just days after the refinery announced a N15 cut in its gantry (loading) price, indicating a continued downward price trend. However, oil marketers have yet to reflect these decreases at retail stations, since pump prices remain practically unchanged across much of the country.
“Dangote Petroleum Refinery has consistently worked to reduce the prices of petrol and other refined petroleum products, ensuring the continued benefit of Nigerian consumers. For example, in February, the refinery reduced prices twice by N125,” the company noted.
Why this matters
The Dangote Refinery, with a capacity of 650,000 barrels per day, is Africa’s largest and most critical infrastructure investment in Nigeria’s oil sector. By refining domestically and progressively replacing imports, the facility has the ability to stabilize fuel supply, relieve forex pressure, and slash fuel costs for Nigerian consumers over time.
With global oil prices remaining volatile and the naira still struggling to regain ground, the refinery’s pricing decisions could help cushion Nigerians from the full impact of external shocks, provided the supply chain passes on the cost benefits.
