Dangote Petroleum Refinery has announced a further reduction in the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, from N840 to N820 per litre, effective immediately.
The decision, shared on Tuesday, July 8, 2025, through the refinery’s official X account, represents the second price cut within nine days, reflecting a deliberate strategy to ease fuel costs and stabilize Nigeria’s downstream petroleum market.
This follows an earlier reduction on July 1, when the ex-depot price dropped from N880 to N840 per litre, reversing a temporary increase to N880 in late June.
The successive price adjustments aim to lower the cost at which fuel marketers procure petrol, potentially reducing retail pump prices and alleviating economic pressures on Nigerian consumers amid persistent inflation and currency challenges.
The refinery’s proactive pricing strategy underscores its pivotal role in addressing fuel affordability and enhancing energy security in Nigeria.
By prioritizing cost reductions, Dangote Refinery seeks to foster a more competitive and stable fuel market, benefiting millions who rely on petrol for transportation, power generation, and small-scale businesses.
Background
Launched in 2023, the Dangote Petroleum Refinery in Lagos is Africa’s largest single-train refinery, with a capacity to process 650,000 barrels of crude oil daily.
Spearheaded by Aliko Dangote, Africa’s wealthiest entrepreneur, the facility aims to transform Nigeria’s energy landscape by reducing dependence on imported refined petroleum products, a longstanding challenge for the oil-rich nation.
Despite Nigeria’s vast crude oil reserves, chronic fuel shortages and price volatility have plagued the economy, driven by limited domestic refining capacity and reliance on costly imports.
The refinery’s operations are designed to bolster self-sufficiency, stabilize supply, and influence regional energy markets.
These recent price cuts reflect the refinery’s response to fluctuating global oil prices, local economic conditions, and public expectations for affordable fuel, positioning it as a cornerstone of Nigeria’s economic and energy reform agenda.
