Dangote Reduces Fuel, Diesel Prices By ₦130; New Pump Rates Emerge

The Dangote Petroleum Refinery has reduced the ex-depot prices of Premium Motor Spirit, otherwise known as petrol, and Automotive Gas Oil, commonly called diesel.

Under the new pricing arrangement, the refinery reduced the ex-depot price of petrol by ₦50, from ₦1,215 to ₦1,165 per litre.

It also cut the price of diesel by ₦80, from ₦1,650 to ₦1,570 per litre.

The Dangote Group announced the price review in a statement issued on Wednesday.

According to the company, the adjustment was part of efforts to make petroleum products more affordable and improve access to refined products across the country.

The refinery said the move would also support businesses and wider economic activities.

“Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit and Automotive Gas Oil, reaffirming its commitment to providing affordable, high-quality petroleum products to the Nigerian market,” the statement read.

It added, “Under the new pricing structure, the refinery has reduced the ex-depot price of PMS to ₦1,165 per litre, down from ₦1,215 per litre, representing a reduction of ₦50 per litre.

“Similarly, the ex-depot price of diesel has been reduced to ₦1,570 per litre from ₦1,650 per litre, amounting to a decrease of ₦80 per litre.”

The refinery said it remained committed to maintaining a stable supply of petroleum products while leveraging improved operational efficiency to deliver value to consumers and businesses.

It added that the benefits of such efficiencies would continue to be passed on to consumers whenever market conditions permitted.

“The price review reflects Dangote Refinery’s ongoing efforts to enhance energy affordability, improve access to refined petroleum products and support economic activities across Nigeria,” the company said.

Dangote Refinery also said its operations were helping to strengthen Nigeria’s energy security and reduce the country’s dependence on imported petroleum products.

The company maintained that the local supply of refined products would support economic development and improve the availability of fuel in the domestic market.