- The Dangote Petroleum Refinery has reduced the ex-gantry and coastal loading price of Premium Motor Spirit (petrol) from N1,125 to N1,075 per litre.
- This N50 price drop represents a 4.4 per cent reduction and marks the second major price cut implemented by the refinery within a single week.
- The refinery has also completely canceled its 20-member consortium arrangement, opening up direct product loading to all qualified independent marketers.
The downstream petroleum sector in Nigeria has witnessed a significant shift as the Dangote Petroleum Refinery announced a major reduction in the ex-gantry price of Premium Motor Spirit, popularly known as petrol.
Eko Hot Blog reports that the refinery has slashed the price from N1,125 per litre to N1,075 per litre, marking a reduction of N50 or 4.4 per cent.
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This development is expected to immediately trigger a wave of price adjustments and intensify competition among various independent oil marketers and filling stations across the country.
This latest adjustment represents the second price cut implemented by the mega-refinery within a single week, coming just days after the price was brought down from N1,175 to N1,125 per litre.
Market findings indicate that the refinery has also systematically aligned its coastal loading price at the same uniform rate of N1,075 per litre.
By doing so, the management has effectively eliminated the previous price differential that existed between coastal and gantry sales, establishing a streamlined pricing regime for all domestic buyers.
According to senior officials within the Dangote Petroleum Refinery who spoke on the condition of anonymity, the new pricing matrix has been put into immediate effect across all distribution channels.
The officials noted that the continuous price review is a core part of the refinery’s strategic framework to make petroleum products substantially more accessible, affordable, and highly competitive within the local market.
In a parallel structural shift, the refinery has completely suspended its 20-member consortium arrangement.
This specific move opens up product loading at both the gantry and coastal terminals directly to all qualified independent marketers who satisfy the baseline requirements, removing long-standing distribution monopolies.
Independent verification on the industry pricing platform, petroleumprice.ng, has firmly confirmed the updated ex-depot rate of N1,075 per litre at the Lekki-based facility.
With this development, retail filling stations, particularly those that haul products directly from the refinery, are under massive pressure to adjust their pump prices downward in the coming days.
The ongoing price cuts directly coincide with renewed efforts by the Federal Government to ensure that end-consumers benefit from the absolute deregulation of the downstream petroleum sector.
Reflecting on these market dynamics, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, previously reemphasised that fuel prices in a fully deregulated environment will be strictly determined by market forces and healthy competition rather than arbitrary government dictates.
The regulatory bodies, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Federal Competition and Consumer Protection Commission, have also maintained a firm stance against profiteering, urging operators to maintain cost-reflective, transparent, and fair pricing models that protect Nigerian consumers from exploitation.
