Dangote Petroleum Refinery and Petrochemicals has announced a reduction in its gantry price for premium motor spirit (PMS), popularly known as petrol, bringing it down to ₦1,200 per litre. The refinery also pegged its coastal price at ₦1,153 per litre, according to a statement by the Dangote Group spokesperson, Anthony Chiejina.
The adjustment represents a ₦75 decrease from the previous gantry price of ₦1,275 per litre and is part of the refinery’s regular review of its pricing structure. This change is expected to influence downstream fuel supply costs across Nigeria, affecting marketers, depots, and retail outlets.
Chiejina noted that lower ex-depot prices typically translate into reduced pump prices, potentially easing fuel costs for consumers. The move also comes amid ongoing geopolitical tensions in the Middle East, which have introduced uncertainty into global oil markets, impacting shipping, insurance, and supply chains.
“The presence of large-scale local refining capacity is increasingly seen as a stabilizing factor for Nigeria, offering some insulation from external shocks even as global market pressures persist,” Chiejina said.
With this new rate, marketers are expected to recalibrate landing costs, particularly for those sourcing locally instead of importing. Similarly, the coastal price is set to affect marine deliveries to coastal depots, providing alternative supply channels for distributors in southern regions.
This price adjustment is part of a broader trend as Nigeria continues to ramp up local refining capacity, which is gradually reducing dependence on imported petrol and helping stabilize the domestic market.
