November 08, (THEWILL) — Dangote Refinery is set to further reduce the gantry price of Premium Motor Spirit (PMS), popularly known as petrol, by 5 percent next week.
A highly placed source familiar with the development confirmed to THEWILL that the refinery will lower the price from its current N828 per litre to N786.60, reflecting a 5% adjustment aimed at easing cost pressures on marketers and consumers.
This follows last Friday’s price slash, when the refinery cut petrol prices by 5.6 percent, moving from N877 to N828 per litre—its second major price review in three months.
The latest move signals the company’s intention to respond proactively to market dynamics and domestic supply demands.
The source said the new reduction is part of ongoing efforts by Dangote Industries to ensure product affordability, deepen local distribution, and cushion the impact of high import and logistics costs on end-users.
“This is a market-driven decision to support price stability and sustainability within the local energy sector”, the source told THEWILL, adding that the adjustment will take effect early next week across all depot locations.
When implemented, the new gantry price of N786.60 per litre is expected to trigger corresponding retail price adjustments across filling stations nationwide, offering consumers some relief amid persistent inflationary pressures.
The Dangote Refinery, with a capacity of 650,000 barrels per day, remains central to Nigeria’s efforts to achieve energy self-sufficiency and stabilise the downstream petroleum sector.
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