In a renewed effort to ease fuel prices and stabilize market dynamics, the Dangote Petroleum Refinery has announced a fresh downward adjustment in the ex-depot price of Premium Motor Spirit (PMS), widely known as petrol. The new rate has been revised from ₦840 to ₦820 per litre, effective immediately.
This update was disclosed in an official statement issued by the company on Tuesday through its verified X (formerly Twitter) platform, marking the refinery’s second price revision within a nine-day span.
Consistent Downward Trend in Fuel Pricing
Earlier on July 1, the refinery had brought the price down from ₦880 to ₦840 per litre after a brief spike in late June. The cumulative effect of these reductions represents a ₦60 drop in the ex-depot rate within just two weeks—a move viewed by industry watchers as strategic, given its timing and impact on retail pump prices.
Ex-depot prices refer to the cost at which fuel is sold to marketers directly from the refinery gate and are a key determinant of the final pump prices paid by motorists across Nigeria.
“The updated ex-depot rate of ₦820 per litre is now in force,” the refinery noted in the statement, indicating the immediate applicability of the adjustment.
Retail Pump Prices Likely to Reflect Change
Several major downstream operators—including MRS Oil & Gas, Ardova Plc, Heyden Petroleum, and other players with direct purchase agreements with the Dangote Refinery—are anticipated to revise their retail pricing structures downward in response to the reduction.
Market analysts suggest that the adjustment could push petrol pump prices below the ₦885 threshold, offering much-needed financial relief to consumers grappling with elevated living costs and inflation.
New CNG Tanker Fleet to Bolster Nationwide Distribution
In a separate but related initiative, Dangote Refinery is preparing to launch a large-scale distribution project scheduled to commence on August 15, 2025. Under the program, petrol and diesel will be distributed at no charge to select marketers, distributors, and high-volume users nationwide.
As part of its logistics expansion and commitment to sustainable operations, the refinery has acquired a fleet of 4,000 brand-new tankers powered by Compressed Natural Gas (CNG). This move not only supports eco-friendly fuel transportation but also promises to improve efficiency in nationwide fuel distribution.
Transforming Nigeria’s Energy Sector
The $20 billion Dangote Refinery, located in the Lekki Free Zone of Lagos State, stands as Africa’s largest oil refining facility. Industry experts project that its growing role in Nigeria’s downstream sector will drastically reduce the country’s reliance on imported refined fuel and improve domestic energy security.
By consistently adjusting pricing in response to market conditions and investing in cleaner fuel logistics, Dangote Refinery is reinforcing its position as a key player in reshaping Nigeria’s energy economy.
