Dangote Petroleum Refinery & Petrochemicals has announced a fresh reduction in the ex-depot prices of Premium Motor Spirit (PMS), popularly known as petrol, and Automotive Gas Oil (AGO), commonly referred to as diesel.
The company disclosed the price adjustment in a statement, saying the move reflects its commitment to making refined petroleum products more affordable and supporting economic activities across Nigeria.
According to the refinery, the ex-depot price of petrol has been reduced to ₦1,250 per litre from ₦1,275 per litre. Diesel prices were also cut to ₦1,700 per litre from ₦1,800 per litre.
The company said the latest review is part of ongoing efforts to improve supply efficiency, expand domestic refining capacity, and provide cost relief to consumers and businesses that rely heavily on petroleum products.
“The price review comes amid the refinery’s continued efforts to improve supply efficiency, deepen domestic refining, and provide cost relief to consumers and businesses that depend heavily on petroleum products for transportation, power generation and industrial operations,” the statement said.
The refinery explained that lower fuel prices could help reduce operating costs for businesses, particularly those involved in transportation, manufacturing, logistics, and power generation.
It added that the price reduction aligns with its broader objective of ensuring a steady supply of refined petroleum products to the domestic market while helping to ease the financial burden on consumers.
According to the company, the move also supports ongoing efforts to strengthen Nigeria’s energy security through increased local refining.
Since commencing operations, the 650,000 barrels-per-day refinery has steadily expanded the supply of refined petroleum products to the local market. The company said this strategy is aimed at reducing Nigeria’s dependence on imported fuel and improving the availability of petroleum products nationwide.
Industry stakeholders have continued to monitor the refinery’s impact on domestic fuel supply and pricing, with expectations that increased local refining capacity will contribute to greater market stability and improved energy security in the long term.
The latest reduction in petrol and diesel prices is expected to provide some relief to consumers and businesses grappling with high energy and transportation costs, while reinforcing the role of local refining in supporting Nigeria’s economic development.
