Dangote Refinery Cuts Petrol Prices, Boosts Local Market

The Nigerian downstream petroleum market is currently seeing price reductions as the Petroleum Refinery and major depot operators, including Dangote Refinery, intensify competition. The Major Energies Marketers Association of Nigeria (MEMAN) reported that the petrol import parity price is ₦1,253.80 per litre, while Dangote Refinery's gantry price is ₦1,185.13 per litre as of October 30, 2026.

This creates a price advantage of ₦68.67 per litre for locally refined petrol. The reductions are expected to influence further price cuts across Nigeria's fuel distribution network.

In Lagos, average petrol prices fell by ₦81.67 per litre, with companies like African Terminal and Ardova reducing prices from ₦1,340 to ₦1,260 per litre. Diesel prices also decreased, with Rain Oil and Wosbab lowering their prices to ₦1,805 per litre.

The average diesel price in Lagos is now ₦1,808.75 per litre. The adjustments reflect a growing influence of domestic refining in the deregulated petroleum market.