Dangote Petroleum Refinery and Petrochemicals has reduced its ex-depot price of petrol to N865 per litre, marking a N15 cut from the previous rate of N880 per litre.
The new pricing was communicated to customers via an official notice on Thursday and reflects ongoing adjustments in the downstream sector as local refining gains traction.
The price cut comes on the heels of a reaffirmation by the Federal Government that crude oil and refined product sales in naira will continue, a move intended to stabilize the market and reduce pressure on the foreign exchange system.
In a statement issued Wednesday, the Federal Ministry of Finance described the naira-based transaction policy as a long-term directive aimed at supporting sustainable local refining, enhancing energy security, and cutting down Nigeria’s dependence on forex for fuel importation.
“This is not a temporary measure,” the ministry emphasized. “It is a key policy directive backed by the Federal Executive Council (FEC) to ensure consistent implementation.”
The Dangote Refinery’s price revision is expected to ease distribution costs for marketers and possibly trickle down to consumers, especially as the country pushes for a more self-reliant energy sector.
