Nigerian Petrol Depots Adjust Prices After Dangote's Rate Cut

Several petrol depots in Nigeria have started selling fuel at lower rates after Dangote Petroleum Refinery announced a reduction in its ex-depot price. Dangote's price cut has led to changes in the prices set by private depots, with some selling below N800 per liter.

The new depot prices range from N702.50 at Dangote Refinery in Lagos to N820.00 at Matrix. Despite the price cuts, some filling stations in Lagos and Ogun continue to sell petrol at higher rates.

The Nigerian National Petroleum Corporation (NNPC) has also reduced the pump price of Premium Motor Spirit (PMS) in major cities. Dangote's initiative aims to provide temporary relief to consumers, especially ahead of the festive season.