The Dangote Petroleum Refinery has reduced its ex-gantry price of premium motor spirit (PMS) to ₦828 per litre, a ₦49 drop from the previous price of ₦877 per litre.

A source within the refinery confirmed the adjustment, saying:
“The refinery reduced its petrol price to ₦828 per litre.”

The price cut comes as the refinery moves to scale up production to 1.4 million barrels per day (bpd) a capacity that would exceed that of India’s Jamnagar Refinery, currently the world’s largest at 1.36 million bpd.

Earlier on November 1, the refinery announced that its daily supply of petroleum products had already surpassed Nigeria’s national demand.
“Our refinery is currently loading over 45 million litres of PMS and 25 million litres of diesel daily, which exceeds Nigeria’s demand,” the statement said.

The company noted that it is working closely with regulators and distribution partners to ensure seamless nationwide distribution.

On November 6, Oando Plc declared a “strategic pause” on petrol imports, citing increased domestic output from the Dangote plant.
Wale Tinubu, Group Chief Executive of Oando, said the company’s trading arm had come under pressure due to the rapid drop in PMS importation a “positive development that enhances Nigeria’s energy security and self-sufficiency.”

The refinery’s expanding output and lower ex-gantry price are expected to significantly reshape downstream market dynamics, potentially reducing retail pump prices and further cutting Nigeria’s dependence on imported fuel.