Dangote Refinery Reduces Petrol Ex-Depot Price to ₦1,075 Per Litre, Opens Sales to All Marketers

Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦1,125 to ₦1,075 per litre, a move expected to drive another round of price adjustments across Nigeria's downstream petroleum sector.

The refinery also lowered its coastal loading price to ₦1,075 per litre and announced the suspension of its consortium marketing arrangement, allowing all qualified petroleum marketers to load products directly from its gantry.

The suspended consortium included NIPCO Plc/11 Plc, MRS, TotalEnergies, Conoil, AA Rano, AYM Shafa, Rainoil/Eterna, Ardova Plc, NNPC Retail and other participating marketers.

Industry sources said the latest pricing adjustment is intended to make locally refined petrol more competitive with imported fuel while expanding access to supplies for marketers across the country.

According to the sources, opening product loading to all qualified marketers is expected to encourage greater competition in the downstream petroleum market, improve product availability and strengthen fuel distribution nationwide.

The price reduction comes amid a decline in global crude oil prices and follows calls by the Federal Government and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for domestic petroleum product prices to reflect prevailing international market conditions under Nigeria's deregulated fuel market.

Stakeholders believe the new ex-depot price will increase competitive pressure on fuel importers and private depot operators, many of whom may be compelled to review their prices downward to retain market share.

They added that the development could also result in further reductions in depot prices and eventually lower retail pump prices for consumers if marketers pass on the cost savings.

The latest adjustment further underscores Dangote Refinery's growing influence in Nigeria's downstream petroleum industry, with its pricing decisions increasingly serving as a benchmark for other suppliers in the market.