Dangote Refinery Cuts Petrol Price to ₦835 Per Litre in Third Reduction in Six Weeks Amid Falling Import Costs and Renewed Naira-for-Crude Policy
In a fresh move to ease fuel costs, Dangote Refinery has slashed the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to ₦835 per litre a ₦30 reduction from the ₦865 rate announced six days ago and ₦45 lower than last Wednesday’s ₦880. This marks the refinery’s third price cut within six weeks.
NEWS REVIEW gathered that the new rate was communicated to customers in a notice sent out Wednesday morning. A pro forma invoice sighted by our correspondent and data on petroleumprice.ng confirmed the update.
The new price includes statutory charges from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). According to the revised price structure, petrol at the gantry will now sell for ₦835 per litre, while coastal sales remain suspended.
Diesel will sell at $608 per tonne plus a $70 surcharge, payable in either naira at ₦1,650/$ or in US dollars. Jet fuel is priced at $664.75 with an added $42 gantry surcharge and $22 coastal surcharge. Cooking gas prices remain on hold for both gantry and coastal deliveries.
The adjustment follows a drop in the landing cost of imported petrol, which fell to ₦853 per litre on Tuesday, down from ₦856.75 last Monday.
During the period from April 8 to 16, 2025, marketers imported 117,000 metric tonnes (equivalent to 156.9 million litres) of petrol to boost national supply. These figures were confirmed through documents from the Nigerian Ports Authority and the Major Energies Marketers Association of Nigeria.
On-the-spot sales at the NPSC-NOJ terminal dropped to ₦853.12 per litre, with the 30-day average falling to ₦844.84.
The ongoing price reductions come amid the full implementation of the Naira-for-Crude initiative resumed by the Federal Government. According to a statement from the Ministry of Finance, the initiative aims to reduce reliance on foreign exchange and promote sustainable local refining.
The policy, reviewed during a meeting between Finance Minister Wale Edun and representatives from Dangote Refinery, is expected to play a long-term role in bolstering Nigeria’s energy security.
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, also known as petrol, to ₦835 per litre a ₦30 reduction from the ₦865 rate announced six days ago and ₦45 lower than last Wednesday’s ₦880.){kind=link}