The Dangote Refinery has again reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, slashing it to ₦835 per litre. This marks a ₦30 decrease from the previous price of ₦865, and a ₦45 drop from ₦880 just a week ago, reflecting a 3.5% reduction.
This latest cut is the third price reduction by Dangote Refinery in less than six weeks, as the company continues its effort to make refined products more affordable and support the government’s push for sustainable local refining.
A pro forma invoice obtained by reporters, alongside updates on petroleumprice.ng, confirmed the new price structure, which includes charges by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The new gantry price is ₦835 per litre, while coastal sales remain on hold.
Other refined products from the facility are priced as follows:
Diesel: $608 + $70 surcharge (payable at ₦1,650/$ or in USD)
Jet Fuel: $664.75 with additional surcharges of $42 (gantry) and $22 (coastal)
Cooking Gas: Prices currently on hold
The price reduction comes at a time when the landing cost of imported petrol fell to ₦853 per litre, down from ₦856.75 last Monday. Marketers confirmed the drop, pointing to the positive effect of the resumed Naira-for-Crude policy, a strategic government initiative aimed at reducing Nigeria’s reliance on foreign exchange for fuel imports.
According to documents from the Nigerian Ports Authority and the Major Energies Marketers Association of Nigeria, 117,000 metric tonnes (approximately 156.9 million litres) of petrol were imported between April 8 and April 16, 2025, through the Tin Can Port in Lagos and the Calabar Port in Cross River State.
In a related development, the Ministry of Finance confirmed the full implementation of the Naira-for-Crude agreement. In a recent statement on its official X handle, the ministry emphasized that the policy is a long-term strategy to enhance energy security and ensure steady supply of petroleum products through local refining.
A meeting between Finance Minister Wale Edun and representatives of the Dangote Refinery was held to assess the progress and resolve implementation issues related to the initiative.
