July 09, (THEWILL) — The Dangote Petroleum Refinery has announced a further reduction in the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, from N840 to N820 per litre.
This marks the second downward adjustment in less than a week, after an earlier drop from N880 to N840, as the refinery responds to evolving market conditions and aims to ease the financial burden on Nigerians.
Group spokesperson, Anthony Chiejina, who disclosed the new price in a statement, said the reduction takes immediate effect and reflects the company’s commitment to making fuel more affordable across the country.
“The price of PMS has been reduced from N840 to N820 per litre, effective immediately,” Chiejina stated, adding that the move aligns with Dangote’s broader goal of ensuring steady and accessible fuel supply nationwide.
The company had earlier attributed the initial price cut to volatility in the global crude oil market, largely triggered by a 12-day geopolitical crisis in the Middle East, which drove up crude prices.
In the wake of the price adjustment, more independent marketers are partnering with the refinery to distribute its products across Nigeria. These include major players like TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., Soroman Nigeria Ltd., Jezco Oil Nigeria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, and Mamu Oil.
Existing distributors such as MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil are also expected to adjust their pump prices in line with the new ex-depot rate.
Touted as the world’s largest single-train refinery, the Dangote facility has been ramping up its local distribution network, assuring consistent fuel supply and competitive pricing.
In a related development, the refinery revealed it has invested over N720 billion in the acquisition of 4,000 Compressed Natural Gas (CNG)-powered trucks to distribute fuel nationwide. This initiative, it said, could save Nigerians over N1.7 trillion annually in fuel distribution costs and absorb an estimated N1.07 trillion yearly on behalf of marketers.
The CNG rollout is also expected to significantly benefit over 42 million Micro, Small, and Medium Enterprises (MSMEs) by lowering energy expenses and improving profitability.
From August 15, the refinery will commence direct deliveries of petrol and diesel to filling stations, industrial users, and large-scale consumers nationwide. The move is expected to drive down pump prices, reduce inflationary pressure, and cut logistics costs for fuel marketers and end users.
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