Dangote refinery slashes petrol, diesel prices again

The Dangote Petroleum Refinery & Petrochemicals has announced another reduction in the prices of petrol and diesel in Nigeria.

According to the company, the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, has been reduced from ₦1,275 per litre to ₦1,250 per litre. The price of Automotive Gas Oil (AGO), or diesel, was also cut from ₦1,800 per litre to ₦1,700 per litre.

The management explained that the price adjustment is aimed at making fuel more affordable, improving product supply, and supporting economic activities across the country. It noted that many businesses and transport operators rely heavily on fuel for their daily operations.

The refinery further stated that it is committed to increasing local refining capacity and reducing Nigeria’s dependence on imported petroleum products.

The management of the refinery explained that the price review reflects its continued commitment to making petroleum products more affordable and ensuring steady supply in the domestic market. It added that the decision is also part of efforts to reduce the pressure of high fuel costs on households, businesses, and industries that depend heavily on fuel for transportation, electricity generation, and production activities.

The refinery further noted that it remains focused on improving local refining capacity and strengthening Nigeria’s energy independence by reducing reliance on imported fuel.

It stated that increased domestic production will help stabilize prices in the long term and support economic growth.