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Dangote Refinery Slashes Petrol Price to ₦835/Litre

The Dangote Petroleum Refinery has again reduced the ex-gantry price of premium motor spirit (PMS), also known as petrol, bringing it down to N835 per litre, just six days after cutting it to N865.

Sources within the refinery confirmed the price adjustment, noting it reflects Dangote’s commitment to easing pressure on the domestic fuel market and supporting the federal government’s efforts to promote local refining.

The price drop follows the federal government’s announcement on April 9 that the naira-for-crude oil initiative would continue beyond its initial phase, which ended on March 31.

In a statement, the Federal Ministry of Finance said the initiative is a strategic policy directive endorsed by the Federal Executive Council (FEC) and not a temporary measure. The program is designed to:

  • Support sustainable local refining,
  • Strengthen Nigeria’s energy security, and
  • Reduce dependence on foreign exchange in the petroleum market.

Further supporting the policy, Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), noted on April 15 that Nigeria’s estimated petrol pump price remains lower than those of neighboring West African nations.

Ahmed added that local refining efforts have led to a 29.9 million litre reduction in petrol importation over the past eight months a development largely attributed to increasing supply from domestic refineries like Dangote’s

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