Nigeria’s Dangote Petroleum Refinery has announced significant price reductions for petrol and diesel in its latest gantry pricing template, offering relief to consumers amid recent volatility in fuel costs.
The adjustments, effective immediately, lower petrol (Premium Motor Spirit, PMS) to ₦1,075 per litre at the gantry from the previous ₦1,175 per litre, marking a direct cut of ₦100 per litre.
For coastal supply, PMS pricing has been set at ₦1,050 per litre, reflecting a minor adjustment to account for maritime distribution expenses. In parallel, Automotive Gas Oil (diesel) gantry price drops sharply to ₦1,430 per litre, down ₦190 from the earlier ₦1,620 per litre.
These changes follow a series of upward revisions in early March driven by global crude oil fluctuations, positioning the refinery’s output as potentially more competitive against imports.
The refinery clarified that gantry prices exclude additional fees imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which typically cover regulatory, environmental, and other downstream charges.
Industry watchers anticipate these reductions could translate to lower pump prices nationwide, depending on marketer margins, transportation costs, and forex dynamics—especially as Dangote continues full-capacity operations supplying over 50 million litres of petrol daily.
This move reverses recent hikes that saw petrol gantry prices climb from ₦774 in February to ₦1,175 by March 9, underscoring the refinery’s responsiveness to market fundamentals like crude costs and replacement expenses.
For Nigerian motorists, businesses, and households grappling with transport and generator fuel expenses, the cuts signal timely respite in an economy sensitive to energy pricing.
