By Shittu Oluwadamilola
The Dangote Petroleum Refinery and Petrochemicals has reduced its gantry price for premium motor spirit (PMS), commonly known as petrol, to ₦1,200 per litre.
In a statement issued on Friday, the spokesperson for the Dangote Group, Anthony Chiejina, disclosed that the refinery also set its coastal price at ₦1,153 per litre. The adjustment is expected to influence fuel supply costs across Nigeria’s downstream distribution chain.
According to Chiejina, the move represents a downward review of the refinery’s pricing structure and could have a ripple effect on fuel pricing across depots and retail outlets nationwide.
The reduction reflects a ₦75 drop from the previous gantry price of ₦1,275 per litre. It follows a recent increase in which petrol prices rose from ₦1,175 to ₦1,245 per litre.
Chiejina noted that the revised pricing comes amid persistent uncertainty in the global oil market, largely driven by geopolitical tensions in the Middle East. These tensions continue to impact shipping routes, insurance premiums, and global supply chains.
He added that lower ex-depot prices typically translate into reduced pump prices, suggesting potential relief for consumers if the trend is sustained.
The development is also expected to prompt marketers to reassess their landing costs, particularly those sourcing products locally rather than through imports. Additionally, the coastal price of ₦1,153 per litre may provide a competitive alternative for marine deliveries to depots in Nigeria’s southern regions.
Chiejina emphasized that Nigeria’s growing local refining capacity is increasingly serving as a buffer against external shocks, helping to stabilize the domestic fuel market despite ongoing global pressures.
