In a major relief for Nigerian motorists and businesses, Dangote Petroleum Refinery has announced sharp reductions in the prices of Premium Motor Spirit (PMS, commonly known as petrol) and diesel, with the new rates taking effect immediately.
According to a statement released by the refinery, the ex-factory price of PMS has been slashed from ₦1,175 to ₦1,075 per litre — a reduction of ₦100 — while the coastal price has dropped from ₦1,150 to ₦1,028 per litre, representing a ₦122 cut. Diesel prices have also been lowered from ₦1,620 to ₦1,430 per litre, a substantial decrease of ₦190.
“This decision is intended to assure Nigerians that the pricing mechanism remains responsive to global market dynamics and indicative of our fair pricing system,” the refinery stated.
The move comes amid a decline in global crude oil prices. The statement explained that all crudes processed at the facility are priced on global benchmark rates plus a modest premium, with forex handled at the prevailing market rate without subsidies.
“As responsible corporate citizens operating in a high-governance code and ethical environment, we believe it is imperative to reduce the price of our products as a reflection of the decline in global crude oil prices,” the refinery added.
The announcement highlighted the company’s consistent approach to pricing throughout 2025. “In 2025, we reduced our gantry price not less than eight times, while increasing it only twice,” the statement noted. “This is borne out of a sense of economic patriotism and a duty to the people of Nigeria.”
Dangote Petroleum Refinery reaffirmed its commitment to passing on the benefits of refined products to consumers nationwide. “We affirm our commitment to set prices of refined products by passing on the benefits to all Nigerians across the 36 states of the Federation and the Federal Capital Territory,” it said.
The refinery also emphasised its broader national role: “Dangote refinery is fully committed to strengthening national energy security while remaining mindful of the economic realities faced by Nigerians.
”The price cuts are expected to ease transportation and production costs across the country, providing welcome relief to households and industries already grappling with inflationary pressures.
