In a move that signals growing momentum in Nigeria’s downstream oil sector, Dangote Refinery has once again reduced its ex-depot price of Premium Motor Spirit (PMS) – commonly known as petrol – from ₦840 to ₦820 per litre. The new pricing takes effect immediately.
This marks the second price reduction in a week, following a previous cut from ₦880 to ₦840 per litre. According to Dangote Group’s spokesperson, Mr. Anthony Chiejina, the latest adjustment reflects efforts to stabilize fuel costs and improve affordability amid fluctuating global crude oil prices.
The refinery’s price reduction comes with an assurance of steady product supply, a move that has encouraged more independent marketers to join Dangote’s growing list of distributors. The company’s existing marketing partners – including MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil – are expected to reflect the new price at their retail outlets.
Additionally, several new companies have come onboard, such as TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., and Soroman Nigeria Ltd. Others include Jezco Oil, Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, and Mamu Oil.
As the world’s largest single-train refinery, Dangote Refinery continues to expand its domestic fuel distribution reach, offering competitive prices and improved access to refined products nationwide.
In a broader push for efficiency and cost savings, Dangote Refinery has invested over ₦720 billion in deploying 4,000 Compressed Natural Gas (CNG)-powered trucks for nationwide distribution. This initiative is projected to save Nigerians over ₦1.7 trillion annually, while absorbing more than ₦1.07 trillion in yearly fuel distribution costs on the company’s part.
The project is also designed to benefit over 42 million Micro, Small and Medium Enterprises (MSMEs) by reducing energy expenses and boosting profitability. It will eliminate transportation costs for fuel marketers and large-scale consumers – leading to lower pump prices and reduced inflation.
Starting August 15, the refinery will commence direct delivery of petrol and diesel to filling stations, industrial users, and high-volume consumers across the country.
