Dangote Refinery Reduces Petrol Ex-Depot Price to N820 per Litre

Dangote Petroleum Refinery has announced a further reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, bringing the new rate down to N820 per litre. The updated pricing takes effect immediately.

This marks the second price cut by the Lagos-based refinery within nine days, following an earlier reduction from N880 to N840 per litre on July 1. The total decrease now stands at N60 per litre over a two-week period.

The ex-depot price is the rate marketers pay at the refinery gate and directly influences pump prices across the country. Industry players expect that retail prices may fall below N885 per litre as a result of this latest adjustment.

In a related move, the refinery also announced plans to distribute petrol and diesel free of charge to select marketers and bulk users beginning August 15. To facilitate the rollout, 4,000 Compressed Natural Gas (CNG)-powered tankers have been acquired.

The $20 billion Dangote Refinery, situated in the Lekki Free Zone, is Africa’s largest and is poised to significantly reduce Nigeria’s reliance on fuel imports while stabilising local supply.