Nigeria’s downstream petroleum market may witness a fresh wave of relief following a price reduction announced by the Dangote Petroleum Refinery for petrol and diesel.
In a new pricing template released on March 10, 2026, the refinery reduced the gantry (ex-depot) price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,075 per litre, down from the previous ₦1,175 per litre. The adjustment represents a ₦100 reduction in the depot price.
The refinery also announced a reduction in the price of Automotive Gas Oil (AGO), also known as diesel, to ₦1,430 per litre, representing a ₦190 decrease from the earlier price of ₦1,620 per litre.
According to the pricing template, petrol supplied through coastal distribution channels will now cost ₦1,050 per litre, reflecting the additional logistics involved in marine transportation.
Industry observers note that the new prices apply at the refinery gantry, meaning marketers and depot operators purchase the products at those rates before adding transportation costs, regulatory fees, and other margins that determine the final pump price at filling stations.
The refinery indicated that the quoted gantry prices do not include statutory charges imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, which could influence the eventual retail price paid by motorists across the country.
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The development comes amid fluctuations in Nigeria’s fuel market, where petrol prices recently climbed to about ₦1,175 per litre at the refinery before the latest adjustment. Analysts say the reduction may provide some relief to marketers and consumers if it translates into lower pump prices nationwide.
The Dangote Group–owned refinery located in the Lekki Free Trade Zone in Lagos is Africa’s largest oil refinery and was built to significantly boost Nigeria’s domestic refining capacity and reduce reliance on fuel imports.
