Dangote Petroleum Refinery has announced another reduction in the ex-depot prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (AGO), also known as diesel.
Under the revised pricing structure, the refinery cut the ex-depot price of petrol from ₦1,275 to ₦1,250 per litre, while diesel was reduced from ₦1,800 to ₦1,700 per litre.
According to the company, the latest adjustment is aimed at making fuel more affordable for consumers and businesses, improving supply efficiency, and supporting economic activities across the country.
The refinery said the move aligns with its commitment to strengthening domestic refining, reducing Nigeria’s dependence on imported petroleum products, and providing cost relief for sectors that rely heavily on fuel for transportation, power generation, and industrial operations.
Despite the reduction, many filling stations nationwide have yet to reflect the new prices at the pump, with petrol still selling above ₦1,350 per litre in several locations due to distribution and marketing costs.
Dangote Refinery also highlighted its growing contribution to Nigeria’s economy, noting that the operational expansion of its 650,000 barrels-per-day facility was cited by S&P Global Ratings as one of the factors behind the recent upgrade of Nigeria’s sovereign credit rating from “B-” to “B”.
The company maintained that increased domestic refining capacity will help stabilise fuel supply, reduce pressure on foreign exchange demand, and support the country’s broader economic recovery efforts.
