Good News: Dangote Refinery Lowers Petrol Price by N100, Filling Stations To Reflect New Rates
- Dangote petroluem refinery has lowered the cost of loading petrol at its facility by N100 per litre
- The refinery cut will bring relief after recent increases trigger the hike in retail prices
- Filling stations are expected to make an adjustement in their pump prices
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 N100 per litre, lowering the ex-depot rate from N1,175 to N1,075 per litre.
According to the refinery’s latest pricing template released on March 10, 2026, the adjustment also includes a reduction in the price of Automotive Gas Oil (AGO), commonly known as diesel.
Source: Getty Images
Dangote lowers petrol price
The refinery also said PMS coastal supply will now be sold at N1,050 per litre, reflecting a small differential for marine distribution.
Petrolumprice.ng reports that the gantry price of Automotive Gas Oil (diesel) has been reduced to N1,430 per litre, representing a N190 drop from the previous price of N1,620 per litre.
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NNPC increases petrol prices by N118, releases new pump rates in Abuja, Lagos, other states
The refinery explained that all gantry prices are quoted exclusive of charges imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Petrol price reduction may bring relief
The latest price adjustment comes after a period of sharp increases in depot prices that pushed up pump prices up to N1,400 per litre in some states in Nigeria.
Industry observers say the downward review could provide temporary relief for marketers and bulk buyers who had faced rapidly rising loading costs in recent days and this could reflect in retail prices.
Source: Getty Images
CEO explains why petrol prices may remain high
Meanwhile, the Managing Director and Chief Executive Officer of Dangote Petroleum Refinery, David Bird, has said petrol prices may not decline significantly even when the refinery reaches full operational capacity.
Dangote Refinery CEO David Bird says petrol prices may remain high due to volatility in global oil markets. Photo: Dangote Group Source: UGC
Bird made the remarks during a media chat on Monday, March 9 explaining that the refinery operates within the international commodities market, which directly affects the cost of crude oil and refined products.
Dangote buys crude at global prices
According to him, the refinery purchases crude oil at global benchmark prices, including crude supplied locally under the crude-for-naira programme.
Bird said:
“We are fully exposed to the international commodity market. That needs to be widely understood."
He explained that crude supplied by the Nigerian government is still priced according to international benchmarks, while additional costs such as freight and insurance are incurred to transport the crude to the refinery.
NNPC increase petrol price again
Earlier, Legit.ng reported that petrol prices at filling stations operated by the Nigerian National Petroleum Company Limited (NNPC Limited) have been increased again, bringing more headache to motorists.
A survey conducted across several NNPC retail outlets in Lagos showed that the state oil firm has been adjusted to N1,230 in Lagos.
Other states new petrol prices have been released.
Source: Legit.ng
