Dangote Reduces Petrol Price by N25 per Litre “This Is To Notify You”
- Dangote Refinery has decided to reduce the cost of loading petrol at its facility in Lagos
- Marketers now have a decision to make on whether to buy from other depots or directly from Dangote Refinery
- The latest adjustment has heightened competition between Dangote Refinery and petrol importers
Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Dangote Petroleum Refinery has reduced its Premium Motor Spirit (PMS) gantry price by N25 per litre, lowering the ex-depot rate from N799 to N774 per litre.
In a statement released on x, the refinery management said the price adjustment was communicated to marketers on Tuesday, February 10.
Source: Getty Images
It noted that the new rate takes immediate effect nationwide.
The statement reads:
"This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre.
"The adjustment further strengthens the competitiveness of locally refined products, as the current landing price of imported PMS from Lome stands at about N793 per litre, compared to Dangote Refinery's ex depot/gantry price of N774 per litre."
Dangote petrol price cut will bring relief
Earlier in 2026, the refinery had raised its gantry price to N799 per litre after selling at N699 during the festive period. This increased retail price to N839per litre.
The latest reduction to N774 per litre is expected to bring slight relief at the filling stations.
Currently, petrol is sold at N839 at MRS and other filling stations owned by marketers buying from Dangote refinery.
At the Nigerian National Petroleum Company Limited (NNPCL) retail outlets, petrol is sold at N840 per litre in Lagos, while in Abuja it is at N875 per litre.
Source: Twitter
More headaches for importers
Petrol importers who have been selling at lower rates than Dangote Refinery in recent days now face a significant decision regarding their pricing.
Dangote’s decision to cut the price by N25 has once again made it the cheapest source of petrol.
Petroleumprice.ng reported that depot pricing strategies have reduced marketers’ incentive to travel long distances to lift products from the Dangote Refinery.
In another development, Dangote has accused “unpatriotic and unscrupulous individuals” of orchestrating a sophisticated misinformation campaign against the refinery.
The dispute centres on claims, allegedly amplified through S&P Global reports, that Dangote imports finished petrol into Nigeria, an assertion the company categorically denies, BusinessDay reports.
Dangote Refinery stated:
“This propaganda is being promoted by unpatriotic and unscrupulous individuals who cannot afford to see Nigeria stop imports."
Dangote responds to marketers on petrol supply
Earlier, Legit.ng reported that Dangote Refinery has dismissed claims by some oil marketers suggesting it is unable to satisfy local fuel demand.
DAPPMAN’s Executive Secretary, Olufemi Adewole, noted that marketers have continued importing fuel to maintain their businesses.
Meanwhile, the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) contended that the refinery, with a 650,000 barrels-per-day capacity, cannot fully cover Nigeria’s current, lower petrol consumption.
Source: Legit.ng
