The Dangote Petroleum Refinery has reduced the ex-depot price of petrol by N50 per litre, bringing it down from N1,215 to N1,165. Diesel prices have also been cut by N80 per litre, now selling at N1,570 compared to the previous N1,650. The price adjustment, announced on Wednesday, is part of the refinery's ongoing efforts to improve energy affordability and expand access to locally refined petroleum products.
In a statement issued by the Dangote Group, the company attributed the reduction to improved operational efficiencies and stated its commitment to passing on cost benefits to consumers when market conditions allow. The refinery said the move supports economic activities across Nigeria by making fuel more accessible and affordable. It also reiterated its role in boosting energy security and reducing the country's reliance on imported refined products.
The 650,000-barrel-per-day facility has been working to strengthen its presence in the domestic market, with this latest price review reflecting its strategy to remain competitive. While global crude oil prices fluctuated following temporary tensions between Iran and the US, the refinery maintained its pricing stance based on internal efficiency gains rather than external market shifts.
Dangote Refinery cut fuel prices while citing operational efficiency, not falling crude costs. This suggests its pricing power may now depend more on internal performance than global oil trends. If sustained, consumers could see more stable prices even during international volatility.
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