Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (PMS), commonly known as gasoline, by 4.5%, lowering it from N880 to N840 per litre. This move aims to tackle rising fuel costs and boost competition in the market.
Anthony Chiejina, Chief Corporate Communications Officer of the Dangote Group, announced the price cut on Monday, following a decline in global oil prices, with Brent crude falling 1.54% from June 23 to $67.61.
“This strategic programme is part of our broader commitment to eliminating logistics costs, enhancing energy efficiency, promoting sustainability, and supporting Nigeria’s economic development,” the company stated.
The reduction comes ahead of Dangote Refinery’s planned nationwide distribution rollout set for August 15.
On that date, the refinery plans to launch a fleet of 4,000 Compressed Natural Gas (CNG) tanker trucks to deliver gasoline directly from the refinery to retailers, manufacturers, telecom operators, and airports across Nigeria.
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More than 100 new CNG refuelling stations will be established to ease logistics challenges and improve fuel availability.
In recent months, the refinery also adjusted prices, lowering fuel to N865 per litre in April, a N15 reduction from the initial N880 per litre.
Regarding pricing competition, The Guardian reported that just days before Dangote’s latest cut, the Nigerian National Petroleum Company (NNPC) Limited raised gasoline prices at some Lagos retail outlets to ₦925 per litre. Two days earlier, NNPC had increased prices from ₦915.
This contrasts with earlier this year when Dangote and NNPC engaged in a pricing battle, with both sides repeatedly cutting prices to stay competitive.
This rivalry continued until the end of the first phase of the Naira-for-crude agreement, which ran from October 2024 to March 2025.
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