Dangote refinery reduces Petrol price again

By Prince Antwi July 3, 2026

Dangote Petroleum Refinery has announced another reduction in the ex-gantry price of Premium Motor Spirit (PMS), commonly known as petrol, cutting the price from N1,125 to N1,075 per litre.

The latest N50 reduction, representing about 4.4 per cent, is the refinery’s second price cut within seven days and is expected to heighten competition in Nigeria’s deregulated downstream petroleum sector.

The refinery had previously reduced the ex-gantry price from N1,175 to N1,125 per litre before implementing the latest decrease to N1,075 per litre.

As part of the new pricing structure, Dangote Refinery has also aligned its coastal loading price with the ex-gantry price at N1,075 per litre, eliminating the previous price difference between coastal and gantry sales.

A senior refinery official, who spoke on condition of anonymity, confirmed that the revised prices took effect immediately, explaining that the move is aimed at making petroleum products more competitive and widely accessible across the country.

The official further disclosed that the refinery has discontinued its 20-member consortium arrangement, allowing all qualified petroleum marketers to lift products directly from both the gantry and coastal terminals.

According to the source, opening product loading to all eligible marketers is intended to improve market access and ensure a more efficient distribution of petroleum products nationwide.

Industry checks also confirmed the new ex-depot price of N1,075 per litre, a development that could prompt filling stations supplied by the refinery to reduce pump prices in the coming days.

The latest adjustment comes as competition continues to increase in Nigeria’s downstream petroleum industry following the deregulation of the fuel market.

Earlier this week, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, reiterated that petrol prices in a deregulated market should be determined by market forces rather than government intervention. He argued that increased domestic refining capacity would naturally lead to lower prices, improved competition and stronger energy security.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has also maintained that petrol prices must remain cost-reflective under the deregulation policy, while cautioning marketers against profiteering and arbitrary pricing practices.

Similarly, the Federal Competition and Consumer Protection Commission (FCCPC) has urged industry players to promote fair competition, insisting that consumers should benefit from price reductions driven by improved supply and increased market competition.

The latest reduction adds to a series of N50 price cuts introduced by Dangote Refinery since it began large-scale supply of petrol to Nigeria’s domestic market.