The Dangote Petroleum Refinery has further reduced the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, from ₦840 to ₦820 per litre.
A spokesperson for the refinery, Tony Chiejina, confirmed the ₦20 marginal cut on Tuesday, noting that the new pricing took effect on July 8, 2025. This marks the second reduction in just over a week, following a previous cut from ₦880 to ₦840 on June 30, 2025.
Chiejina stated that the price adjustment reflects Dangote Refinery’s ongoing commitment to making refined petroleum products more affordable and accessible across the country.
Major fuel marketers, including MRS Oil & Gas, Ardova Plc, and Heyden Petroleum, who have strategic supply agreements with the refinery, are expected to adjust their pump prices downward in response to the latest reduction. These changes are likely to bring retail prices below the ₦880 mark at many outlets.
Earlier, on June 15, 2025, the Lagos-based 650,000 barrels-per-day capacity refinery announced plans to distribute petrol and diesel at no cost to licensed marketers, bulk buyers, and other large-scale consumers nationwide.
To support the rollout of this initiative, scheduled to begin on August 15, 2025, the refinery said it had acquired 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers to handle large-scale distribution logistics.
In addition, Dangote Refinery introduced a credit facility for bulk buyers, allowing those who purchase a minimum of 500,000 litres to access another 500,000 litres on credit for a period of two weeks, provided they present a valid bank guarantee.
However, these aggressive expansion moves have drawn criticism from sections of the downstream petroleum sector. Some depot owners, truck operators, and independent marketers argue that Dangote’s direct-to-retail and large-scale distribution model could stifle competition and threaten the survival of smaller players who depend on long-standing supply contracts with multinationals and large corporations.
Despite the pushback, the Dangote Group maintains that its refinery’s pricing strategy and distribution plans are designed to ensure product availability, reduce import dependency, and stabilize Nigeria’s fuel market in the long term.
