Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (PMS) by N25 per litre, a move expected to intensify competition in Nigeria’s downstream petroleum market and potentially ease pump prices across the country.
The refinery announced that the ex-depot price has been lowered from N799 to N774 per litre, with the new rate taking immediate effect nationwide. The price adjustment was communicated to marketers on Tuesday, signalling the company’s continued strategy to strengthen the position of locally refined fuel against imported products.
In its official notice to industry stakeholders, the refinery stated: “This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre.”
Industry observers say the reduction could influence retail prices in the coming days, depending on distribution costs and marketers’ margins. The move also widens the competitive gap between locally refined fuel and imported supplies.
According to the refinery, the current landing cost of imported PMS through regional supply routes, including Lome, stands at about N793 per litre, significantly higher than the new ex-depot rate of N774. The company noted that the adjustment is aimed at strengthening the competitiveness of domestic refining and reducing reliance on imports.
The latest price cut comes as the Dangote Refinery continues to expand its footprint in Nigeria’s fuel supply chain, positioning itself as a major price-setter in the deregulated market.
