Dangote refinery slashes petrol price to ₦825 per litre

• Published On: 12 May 2025 at 19:13

Dangote Petrochemicals Refinery has surreptitiously decreased the ex-gantry price of Premium Motor Spirit, better known as petrol, to N825 per litre, undercutting its officially stated price of N835 per litre, industry sources said Monday.

The price reduction, accomplished through a N10 per litre rebate granted to customers upon successful product loading at the refinery, enables marketers to sell petrol at a competitive price of N830 to N835 per litre.

While marketers originally pay N835 per litre, the refund is applied after loading and leaving the facility.

This strategy shift prepares Dangote Refinery to gain market dominance by outpricing imported marketers and private depot owners. The decision demonstrates the refinery's rising impact in Nigeria's fuel market, where it continues to alter traditional pricing dynamics.

The official stated, "The Dangote refinery has begun offering rebates on its products. It is not an official reduction yet, but it will be paid back whenever advertisers purchase things from them."

Dangote Refinery reduced its gantry price by ₦45 in a week, from ₦880 to ₦835 per litre.

This action followed the restoration and full enforcement of the Naira-for-Crude policy, which permits local refiners to pay for crude oil in naira rather than US dollars after an earlier suspension.

Efforts to acquire an official statement from Dangote Group spokesperson Anthony Chiejina on the price decrease were useless, as he was unavailable for comment at the time of filing this article.