The Dangote Petroleum Refinery has cut the pump price of petrol across Nigeria, announcing new rates that vary by region.
In Lagos, motorists will now pay ₦875 per litre, down from ₦890. In other regions, the new prices range from ₦885 to ₦905 per litre.
The announcement was made on Thursday via the company’s official X (formerly Twitter) handle, confirming that the reduced prices apply across all stations operated by Dangote’s distribution partners. These include MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy.
We looked at the new regional breakdown: South-West now sells at ₦885, North-West and Central zones at ₦895, while both the South-East and South-South regions, along with the North-East, are at ₦905.
The company advised buyers to use only authorised stations, warning that any outlet not leveraging the new price should be reported directly via the provided helplines.
This reduction follows a trend by the 650,000-barrel-per-day refinery, which began refining petrol locally in January. Prior to this, the company had slashed ex-depot prices in April to ₦835 per litre, its second reduction in under a week.
That came on the heels of an earlier price drop from ₦880 to ₦865. According to Dangote Group’s Chief Branding and Communications Officer, Anthony Chiejina, the new prices will continue to apply across all partner retail stations.
“These price reductions reaffirm our commitment to providing high-quality petrol at affordable rates, benefiting consumers across the nation,” he stated.
Just days ago, Nigeria’s independent marketers resumed large-scale petrol importation. Data from Blue Sea Maritime shows that over 496 million litres of fuel were delivered to local depots between 11 and 20 May. At least 370,000 metric tonnes were discharged at seaports within that period.
However, Dangote’s strategy appears to go beyond price competition. The refinery explained that its naira-for-crude supply deal, through which it sources crude in local currency, has enabled it to reduce costs significantly.
This structure, according to the company, makes its pricing model more resilient to fluctuations in global crude oil prices.
While consumers have complained that pump reductions announced by refineries are not always so on the ground, Dangote is putting pressure on its retail partners to comply.
The company reaffirmed its goal to maintain affordable prices despite market volatility, stating: “Dangote Petroleum Refinery has consistently worked to reduce the prices of petrol and other refined petroleum products, ensuring the continued benefit of Nigerian consumers.”
In February alone, the company says it reduced prices by ₦125 in two separate moves. This, according to the management, is part of its goal to stabilise fuel costs and protect Nigerian consumers from the ripple effects of foreign exchange shocks.
