Ɗangote Petroleum Refinery & Petrochemicals has reduced its gantry price for Premium Motor Spirit (petrol) to ₦1,200 per litre, while pegging its coastal price at ₦1,153 per litre, a development expected to reshape fuel supply costs across Nigeria’s downstream distribution chain.
According to the its Group’s spokesperson, Anthony Chiejina, the price adjustment represents a downward review in the refinery’s pricing template and comes amid heightened uncertainty in the global oil market driven by geopolitical tensions in the Middle-East.
“Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for petrol to ₦1,200 per litre and its coastal price to ₦1,153 per litre, a move that comes amid ongoing tensions in the Middle-East that continue to influence global oil markets. “The adjustment marks a downward review in the refinery’s pricing structure and is expected to influence fuel supply costs across distribution channels, including depots and retail outlet”, Chiejina stated.
With the new ₦1,200 per litre rate, marketers are expected to recalibrate their landing costs, especially those sourcing locally instead of importing. Similarly, the coastal price of ₦1,153 per litre is expected to affect marine deliveries to coastal depots, providing an alternative supply route for distributors operating in southern corridors.
Recall that the Ɗangote refinery increased petrol prices several times since the US-Iran war started on February 28. From ₦840 per litre before the war, pump prices rose to an average of ₦1,300 as of Thursday. The latest reduction from ₦1,275 to ₦1,200 is expected to reduce pump prices marginally below ₦1,300.
Meanwhile, according to findings, the ambitious deal between the Ɗangote Petroleum Refinery and the Nigerian National Petroleum Company Limited (NNPCL) is facing challenges, as the refinery experienced a crude oil supply shortfall of approximately 79.53 million barrels between October 2025 and mid-March 2026. The report stated that data obtained from a senior management source within the refinery indicated that the facility, which requires approximately 19.77 million barrels of crude monthly to operate at full capacity, received significantly lower volumes during the review period.
The official argued that, under the Petroleum Industry Act (PIA), the export of crude before meeting local demand is clearly prohibited, stressing that the $20bn Lekki-based plant has been grappling with inadequate crude volumes, while the country, through NNPCL, continued to export some of its oil.
A breakdown of the figures shows that the refinery is supposed to get about 19.77 million barrels of crude monthly but received 4.55 million barrels in October, 6.45 million barrels in November, 4.30 million barrels in December, 5.65 million barrels in January, and 4.66 million barrels in February. For March, only 3.6 million barrels were delivered between the 1st and 15th.
