Dangote Refinery Reduces Petrol Price to N820 per Litre, Expands Distribution Network

The Dangote Refinery has once again announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, lowering it from N840 to N820 per litre. The new price takes immediate effect and marks the second downward review in just one week.

It will be recalled that the refinery had previously adjusted the ex-depot price from N880 to N840 per litre, a move influenced by global crude oil market fluctuations amid a 12-day geopolitical crisis in the Middle East, which had led to a temporary spike in crude prices.

Confirming the latest development in Lagos, the Group Chief Branding and Communications Officer, Mr. Anthony Chiejina, stated: “The ex-depot price of PMS has been further reduced from N840 to N820 per litre, with immediate effect.”

With assurances of a consistent supply of high-quality petroleum products, an increasing number of independent marketers have joined the list of distributors retailing Dangote Refinery’s fuels nationwide.

Existing partners such as MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil are expected to reflect the revised pricing at their retail outlets. Additionally, new marketing firms including TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., and Soroman Nigeria Ltd. have been added to the refinery’s growing distribution network. Others include Jezco Oil Nigeria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, and Mamu Oil.

The Dangote Refinery, which is the world’s largest single-train refinery, continues to make significant strides in enhancing domestic fuel supply, offering competitive pricing and improved access to refined petroleum products across the country.

In line with its commitment to transform fuel distribution in Nigeria, the refinery recently disclosed that it has invested over N720 billion in the rollout of 4,000 Compressed Natural Gas (CNG)-powered trucks for nationwide distribution. This strategic investment is projected to save Nigerians over N1.7 trillion annually.

According to management, the refinery will absorb approximately N1.07 trillion annually in fuel distribution costs, a move designed to support over 42 million Micro, Small, and Medium Enterprises (MSMEs) by reducing energy expenses and boosting profitability.

The initiative, which eliminates transportation costs for marketers and large-scale fuel consumers, is also expected to contribute to a reduction in pump prices and help moderate inflationary pressures.

Starting August 15, Dangote Refinery will commence the direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers across Nigeria.