Dangote Petroleum Refinery and Petrochemicals has announced a downward review of its ex gantry loading price for Premium Motor Spirit (PMS), popularly known as petrol, to ₦865 per litre.
Sources close to the $20 billion facility confirmed that the refinery officially informed its marketers and customers of the price adjustment on Thursday. This development comes as the refinery begins ramping up operations and positions itself as a major player in the Nigerian and West African fuel markets.
The revised price represents a strategic shift aimed at making domestically refined fuel more competitive and accessible amid fluctuating international crude prices and ongoing reforms in the nation’s petroleum sector.
Industry stakeholders are closely watching how this price adjustment will influence market dynamics, retail pump prices, and the broader economy, especially as Nigeria continues efforts to reduce dependence on imported refined products.
The Dangote Refinery, located in the Lekki Free Zone of Lagos State, is Africa’s largest oil refinery and is expected to have a refining capacity of 650,000 barrels per day when fully operational.
