Dangote Refinery Cuts Petrol Price by ₦25/Litre to Stabilize Market Amidst Volatility

Dangote Refinery has slashed the price of petrol by ₦25 per litre, reducing the ex-depot price of Premium Motor Spirit (PMS) to ₦799 from ₦824. This price cut, effective from Tuesday, follows the refinery's decision to end temporary incentives introduced earlier.

Industry experts view this move as a strategic recalibration in response to the fluctuating petrol prices in 2025. The Nigerian government's deregulation of the downstream sector has led to price swings between ₦700 and ₦800 per litre due to exchange rate fluctuations and the absence of domestic refining capacity.

Dangote Refinery's increased production capacity of 650,000 barrels per day in Q4 2025 has helped stabilize prices, especially in the southern coastal corridor. The refinery plans to sell petrol at ₦774 per litre during the festive season, indicating a possible improvement in operational efficiency and competitiveness against imported petrol.