Nigeria’s largest refinery reduces ex-depot rates in move aimed at easing fuel costs and boosting supply stability….
The Dangote Petroleum Refinery has announced a downward review of its ex-depot prices for Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), commonly known as diesel, in a move it says is aimed at improving affordability and supporting economic activities across Nigeria.
The refinery said the new prices took effect on Thursday, August 6, as part of its continued efforts to provide competitively priced, high-quality petroleum products to the domestic market.
Under the revised pricing arrangement, the ex-depot price of petrol has been reduced from ₦1,215 per litre to ₦1,165 per litre, representing a ₦50 reduction per litre.
The company also announced a reduction in the price of diesel, bringing it down from ₦1,650 per litre to ₦1,570 per litre, a decrease of ₦80 per litre.
Dangote Petroleum Refinery said the latest adjustment reflects its commitment to improving access to refined petroleum products while supporting consumers, businesses and other stakeholders affected by energy costs.
The refinery noted that operational improvements and efficiency gains have enabled it to review prices in a way that delivers greater value to the Nigerian market.
“As Africa’s largest refinery, Dangote Petroleum Refinery continues to play a pivotal role in strengthening Nigeria’s energy security, reducing reliance on imports, and supporting the nation’s economic development through the supply of world-class petroleum products,” the company said.
The refinery reaffirmed that it remains focused on maintaining a steady supply of petroleum products while using its production capacity to contribute to a more stable energy market.
The latest price reduction comes as Nigeria continues efforts to increase domestic refining capacity and reduce dependence on imported petroleum products following years of challenges in the downstream oil sector.
Dangote Refinery said it would continue to pass on the benefits of improved operational performance to consumers whenever market conditions allow, while contributing to the growth of the Nigerian economy.
