Dangote Refinery Slashes Petrol Price to N890 Per Litre, Offers Relief Amid Rising Fuel Costs

 

Dangote Refinery Slashes Petrol Price to N890 Per Litre, Offers Relief Amid Rising Fuel Costs

Lagos, Nigeria — In a major relief for Nigerians struggling with soaring fuel costs, Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS) to N890 per litre. The move is expected to ease transportation expenses and provide financial relief to consumers as the festive season approaches.



Strategic Price Reduction Amid Inflationary Pressures

This price adjustment comes at a critical time when fuel prices in Nigeria have surged due to the removal of subsidies and rising global crude oil prices. In October 2024, the Nigerian National Petroleum Corporation (NNPC) increased petrol prices by over 15%, pushing costs to nearly N998 per litre in Lagos and N1,030 per litre in Abuja. (Reuters)

Prior to this latest reduction, Dangote Refinery had lowered petrol prices to N970 per litre in November 2024, marking its commitment to making fuel more affordable. With the current drop to N899.50 per litre, the refinery is setting a benchmark that could pressure other fuel suppliers to reassess their pricing. (Punch NG)

Special Holiday Offer: Buy One, Get One on Credit

To further ease the financial burden on Nigerians, Dangote Refinery has introduced a unique offer—for every litre of petrol purchased with cash, consumers can secure an additional litre on credit, backed by guarantees from Access Bank, First Bank, and Zenith Bank. (Tribune Online)

This incentive aims to help both individuals and businesses cope with high fuel costs during the holiday season, when travel expenses typically rise.

Quality Assurance and Environmental Standards

Speaking on the refinery’s commitment to quality, Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Group, emphasized that the refinery is dedicated to producing high-quality, environmentally friendly petroleum products. Unlike imported fuels that often contain impurities, Dangote’s refined petrol meets global environmental standards.








“We are committed to providing Nigerians with cleaner and more efficient fuel, eliminating the dangers of substandard petroleum products that harm both human health and machinery,” Chiejina stated. (The Cable)

Market Impact: Will Other Suppliers Follow Suit?

The refinery’s price reduction is expected to have a ripple effect across the Nigerian fuel market. Industry analysts predict that other petroleum marketers may be forced to reconsider their pricing strategies to remain competitive.

However, fluctuations in global crude oil prices and foreign exchange rates remain major factors influencing future petrol costs. In January 2025, Dangote Refinery briefly raised its petrol price from N899.50 to N955 per litre due to an increase in crude oil prices. (Tribune Online)

Looking Ahead: What This Means for Consumers

With fuel prices remaining one of the biggest economic concerns for Nigerians, the refinery’s price cut offers short-term relief. However, experts caution that unless sustainable policies are implemented, petrol costs could fluctuate based on external market conditions.

For now, motorists and businesses can take advantage of Dangote Refinery’s price drop and holiday offers, ensuring that travel and logistics costs remain manageable during the festive season.

Sources:

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