Dangote Refinery Slashes Petrol Price to N835/Litre in Fresh Market Move
“The refinery reduced the price of petrol to N835 per litre,” an undisclosed source revealed to TheCable.
The Dangote Petroleum Refinery has once again slashed the ex-gantry price of premium motor spirit (PMS), popularly known as petrol, to N835 per litre. This comes just six days after the refinery previously dropped the price to N865 per litre.
According to insider sources at the refinery, the latest price cut underscores Dangote’s ongoing efforts to drive competitive pricing and support the local energy ecosystem.
“The refinery reduced the price of petrol to N835 per litre,” a source revealed to TheCable, highlighting a continued downward trend in pricing since the plant began domestic supply.
This price reduction follows the federal government’s recent reaffirmation of its Naira-for-Crude Oil initiative—a strategic program designed to prioritise local refining and reduce pressure on Nigeria’s foreign exchange reserves.
In a statement issued April 9, the Federal Ministry of Finance emphasised that the policy is not a short-term fix but a long-term directive aimed at strengthening the country’s energy independence.
“The stakeholders reaffirmed the government’s continued commitment to the full implementation of this strategic initiative, as directed by the Federal Executive Council (FEC),” the ministry said. “The Crude and Refined Product Sales in Naira initiative is a key policy designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market.”
Adding to the narrative, Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), noted on April 15 that Nigeria’s pump price for petrol remains lower than in neighbouring West African nations. He also disclosed that petrol imports into the country dropped by 29.9 million litres over the past eight months, thanks to rising contributions from local refiners like Dangote.
