Dangote Refinery slashes petrol price to N820/litre, expands market reach

In another bold move to ease the burden of fuel costs on Nigerians, Dangote Refinery has further slashed its ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, from N840 to N820 per litre.

The latest reduction, announced on Tuesday, comes barely a week after the refinery adjusted its rate from N880 to N840 per litre, marking a cumulative drop of N60 within seven days.

This development was confirmed by Mr. Anthony Chiejina, spokesperson for the Dangote Group, who stated in Lagos: “PMS price has been reduced from N840 to N820 per litre effective immediately.”

The latest price drop is part of a broader strategy by the refinery to stabilise fuel costs and increase accessibility to refined petroleum products across the country.

It also reflects Dangote’s commitment to competitive pricing amid fluctuating global crude oil markets. The previous reduction was attributed to crude oil price volatility triggered by the 12-day geopolitical tensions in the Middle East.

With the assurance of uninterrupted supply, more independent marketers are aligning with Dangote Refinery to distribute its high-quality fuel products nationwide. Existing major partners such as MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil are expected to reflect the new pricing at their retail outlets.

Additionally, a new batch of marketing companies has joined the refinery’s growing distribution network. These include: TotalEnergies; Garima Petroleum; Sunbeth Energies; Sobaz Nigeria Ltd; Virgin Forest Energy; Sixxco Oil Ltd; N.U. Synergy Ltd.; Soroman Nigeria Ltd; Jezco Oil Nigeria Ltd.

Others are: Jengre; Cocean; Kifayat; Triumph Golden; Sifem Global; Riquest and Mamu Oil.

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The expanded list signals the rapid market penetration of Dangote’s refined products, thanks to consistent supply and favorable pricing. The refinery—the world’s largest single-train facility—continues to enhance domestic fuel distribution while promoting cost efficiency across the board.

In a related development, the company also disclosed it has invested over N720 billion to roll out 4,000 Compressed Natural Gas (CNG)-powered trucks for the nationwide distribution of fuel. This initiative is projected to save Nigeria more than N1.7 trillion annually in fuel transport costs.

According to management, the refinery itself will absorb over N1.07 trillion annually in distribution expenses. The rollout is expected to deliver significant economic benefits, particularly to over 42 million Micro, Small and Medium Enterprises (MSMEs) by lowering energy costs and boosting profitability.

Furthermore, the use of CNG trucks eliminates transportation cost burdens on marketers and large-scale fuel consumers, a development that is expected to drive down pump prices and ease inflationary pressures.

Looking ahead, from August 15, the Dangote Refinery will commence direct delivery of petrol and diesel to filling stations, industrial facilities, and bulk consumers. The move is set to further streamline fuel supply chains and enhance product availability nationwide.

With these strategic moves, the Dangote Refinery is redefining Nigeria’s downstream petroleum landscape and advancing the country’s quest for energy security and economic sustainability.