Dangote Reduces Petrol Price to N1,200 per Litre

Dangote Petroleum Refinery has announced a reduction in its petrol gantry price to N1,200 per litre, with a coastal price set at N1,153 per litre. This price adjustment, confirmed by spokesperson Anthony Chiejina, is anticipated to influence fuel supply costs across Nigeria's downstream distribution chain, including depots and retail outlets.

The reduction comes amid heightened uncertainty in the global oil market, particularly due to geopolitical tensions in the Middle East. Historically, the refinery has increased petrol prices several times since the onset of the US-Iran conflict on February 28, with the price rising to an average of N1,300 per litre.

The latest reduction to N1,200 is expected to lower pump price margins below N1,300. Additionally, the Dangote refinery is facing challenges with crude oil supply, experiencing a shortfall of approximately 79.53 million barrels from October 2025 to mid-March 2026, which has significantly impacted its operational capacity.