Nigeria’s largest private refinery, the Dangote Petroleum Refinery & Petrochemicals, has reduced its gantry price for Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,200 per litre, marking a fresh downward adjustment in the domestic fuel market.
The latest price review represents a reduction of about ₦75 from the previous rate of over ₦1,270 per litre, according to industry reports, and reflects ongoing adjustments in the refinery’s pricing structure.
A spokesperson for the Dangote Group, Anthony Chiejina, explained that the reduction is driven by prevailing conditions in the global oil market, including geopolitical tensions in the Middle East that continue to influence crude oil prices.
In addition to the gantry price cut, the refinery also adjusted its coastal price to about ₦1,153 per litre, a move expected to affect marine supply logistics and depot pricing, particularly in southern Nigeria.
Industry analysts note that the reduction could have a ripple effect across the downstream petroleum sector, potentially lowering costs for fuel marketers and, ultimately, pump prices at filling stations if the savings are passed on to consumers.
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The price adjustment comes amid ongoing volatility in global crude oil markets, where supply disruptions and geopolitical tensions have kept pricing unpredictable. Despite these pressures, the refinery’s decision is seen as a strategic effort to enhance competitiveness and stabilize supply within Nigeria’s deregulated fuel market.
The Dangote Refinery, located in Lekki, Lagos, remains a critical player in Nigeria’s energy landscape, with a capacity designed to meet domestic fuel demand and supply regional markets.
Market watchers will be observing how quickly the new gantry price translates into relief for consumers, as transporters and retailers adjust their pricing in response to the latest development.
