Dangote Refinery Cuts Petrol Price to ₦820/Liter, Launches CNG Distribution Push to Ease Fuel Costs
Dangote Refinery has reduced petrol’s ex-depot price to ₦820, down from ₦840 within nine days.
The move may ease pump prices nationwide as inflation and transport costs remain high.
The Dangote Petroleum Refinery has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, bringing it down from ₦840 to ₦820 per liter. The adjustment, which takes immediate effect, marks the second price cut by the refinery in just nine days.
The announcement was made via the company’s official X (Twitter) handle on Tuesday, reinforcing the Lagos-based refinery’s commitment to lowering fuel costs and enhancing price stability across Nigeria’s downstream sector.
₦60 Price Drop in Under Two Weeks
The recent cut follows an earlier reduction on July 1, when the refinery lowered the price from ₦880 to ₦840 per liter. Combined, the two cuts represent a ₦60 per liter reduction within 14 days.
The ex-depot price, the rate at which petrol is sold to marketers directly from the refinery, plays a critical role in determining the final pump price at filling stations. Industry sources indicate that the latest development could see retail prices drop below ₦885 per liter, providing much-needed relief to Nigerians struggling with high inflation and transportation costs.
“The new ex-depot price of ₦820 per liter takes effect immediately,” Dangote Refinery confirmed in its statement.
Major downstream firms such as MRS Oil & Gas, Ardova Plc, and Heyden Petroleum, which have direct supply agreements with Dangote Refinery, are expected to revise their pump prices in the coming days.
Industry analysts view the reductions as part of a broader strategy by Dangote Refinery to capture market share and stabilize supply after a series of initial pricing fluctuations.
Meanwhile, the company has announced plans to distribute petrol and diesel at no cost to select marketers, dealers, and bulk consumers starting August 15, 2025. The initiative aims to enhance distribution efficiency and reduce downstream delivery costs.
To execute the plan, Dangote Refinery has reportedly acquired 4,000 Compressed Natural Gas (CNG)-powered tankers, aligning with its ambition to promote cleaner energy logistics and reduce the sector’s carbon footprint.
Located in the Lekki Free Zone, Lagos, the $20 billion refinery is Africa’s largest and is projected to reduce Nigeria’s dependence on imported fuels significantly. The facility is expected to process 100% local crude by the end of 2025, according to recent reports.
Analysts suggest the latest price reductions signal the refinery’s growing confidence in managing local supply chains, controlling distribution infrastructure, and delivering long-term fuel price stability in the Nigerian market.
