In a move that could influence petrol pricing across Nigeria, Dangote Petrochemicals Refinery has implemented another reduction in the ex-gantry price of Premium Motor Spirit (PMS), bringing it below the previously announced figure of N835 per litre. The adjustment, though subtle in public messaging, is already being felt across the downstream oil market.
Industry insiders suggest the price cut is part of an effort to position the refinery as a stabilizing force in Nigeria’s petroleum sector. With local production now ramping up, the Dangote Refinery has the capacity to reduce the country’s dependence on imported petrol—potentially lowering costs over time for end consumers.
While the exact new price hasn’t been officially confirmed, market sources indicate the figure now sits slightly below the N835 mark. Distributors and marketers have welcomed the development, noting that consistent pricing from local suppliers can lead to greater efficiency and reduced volatility.
However, for everyday Nigerians still grappling with pump prices nearing or exceeding N700 in many regions, the impact remains modest for now. There’s growing anticipation that continued cuts from Dangote could create pressure on other suppliers and eventually bring relief to consumers nationwide.
The latest price change is being viewed as both a business move and a public signal: the refinery is active, it’s competitive, and it’s beginning to shift the narrative on domestic fuel pricing.
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