Dangote Petroleum Refinery has announced a significant reduction in the prices of petrol (PMS) and diesel (automotive gas oil), effective immediately.
Under the new pricing structure, the gantry price of petrol has been cut from ₦1,175 to ₦1,075 per litre, while the coastal price dropped from ₦1,150 to ₦1,028 per litre. Diesel prices also saw a sharp reduction, falling from ₦1,620 to ₦1,430 per litre – a ₦190 per litre decrease.
In a statement, the refinery emphasized that the move reflects its commitment to a fair and responsive pricing mechanism aligned with global market trends. “This decision is intended to assure Nigerians that the pricing mechanism remains responsive to global market dynamics and indicative of our fair pricing system,” the management stated.
The company highlighted its adherence to high governance and ethical standards, noting that reductions in product prices mirror the decline in global crude oil prices. “All our crudes are priced on global benchmark price plus $3 to $6 additional premium. Our forex is paid at prevailing market rate of the day with no subsidy in both crude and forex,” the statement clarified. “For the avoidance of doubt, the crude supplied under the Naira-for-Crude arrangement is priced according to the global benchmark price plus a premium which is then converted to naira using the prevailing market exchange rate.”
The refinery further recalled its proactive pricing strategy in 2025, stating, “In 2025, we reduced our gantry price not less than eight times, while increasing it only twice. This is borne out of a sense of economic patriotism and a duty to the people of Nigeria.”
Dangote Petroleum reaffirmed its commitment to passing on benefits to Nigerians across all 36 states and the Federal Capital Territory, while continuing to strengthen national energy security. “We affirm our commitment to set prices of refined products by passing on the benefits to all Nigerians. Dangote refinery is fully committed to strengthening national energy security while remaining mindful of the economic realities faced by Nigerians,” the management concluded.