Dangote refinery cuts petrol price by N100, assures Nigerians of steady fuel supply
Kola Oyelere Kano
KANO — Dangote Petroleum Refinery has announced a significant reduction in the prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (AGO), also known as diesel, in a move aimed at easing the financial burden on consumers and strengthening economic stability across Nigeria.
Under the new pricing structure, the gantry price of petrol has been reduced from ₦1,175 to ₦1,075 per litre, representing a ₦100 decrease. The coastal price was also cut from ₦1,150 to ₦1,028 per litre, marking a reduction of ₦122.
Diesel prices have also been slashed from ₦1,620 to ₦1,430 per litre, a drop of ₦190.
The refinery management said the price adjustment reflects its commitment to maintaining a pricing system that aligns with global market trends while ensuring fairness and transparency.
According to the company, the decision was influenced by the recent decline in global crude oil prices. It explained that all crude processed at the refinery is purchased at international benchmark prices with an additional premium ranging from $3 to $6 per barrel.
The refinery added that foreign exchange transactions are carried out at prevailing market rates without subsidies on either crude supply or foreign exchange.
It further noted that crude obtained through the Naira-for-Crude arrangement is still valued at global benchmark prices plus the applicable premium before being converted to naira at the current exchange rate.
The management revealed that in 2025 alone, the refinery reduced its gantry prices at least eight times, while increasing them only twice, describing the policy as part of its economic responsibility to Nigerians.
“We remain committed to ensuring that any cost advantages are transferred directly to consumers across the 36 states and the Federal Capital Territory,” the refinery stated.
Meanwhile, the Managing Director of Dangote Petroleum Refinery, David Bird, assured Nigerians that the facility will continue to meet the country’s fuel demand despite ongoing volatility in the global oil and gas market.
Bird noted that while countries that rely heavily on imported fuel are currently experiencing panic buying and rationing, Nigeria is unlikely to face such disruptions due to the presence of the refinery.
He explained that the facility has maintained uninterrupted fuel supply to the domestic market despite rising crude prices, freight costs and insurance premiums triggered by geopolitical tensions in the Middle East.
According to him, global crude oil prices recently surged from the mid-$60 range to nearly $120 per barrel within a week, a development he described as unprecedented and disruptive to the global energy supply chain.
While acknowledging that the refinery is not immune to global price volatility, Bird stressed that Nigeria now has a strategic advantage through domestic refining capacity.
“What would be worse than $120 oil is no oil,” he said, adding that several countries are already rationing fuel because they depend entirely on imports.
Bird reaffirmed that as long as the refinery continues to receive crude supply from the Federal Government and Nigerian National Petroleum Company Limited (NNPCL), it will remain fully committed to meeting Nigeria’s refined fuel requirements.
“With the continued support of government and uninterrupted access to local crude supply, Dangote Refinery will consistently meet all of Nigeria’s refined fuel demand,” he assured.