Dangote Petroleum Refinery has further reduced the gantry price of Premium Motor Spirit (PMS), popularly known as petrol, to ₦825 per litre.
This represents a ₦10 reduction from the previous rate of ₦835 per litre set last month, when the 650,000 barrels per day facility had initially lowered its price from ₦865 in a bid to stimulate demand and stabilize supply across the country.
According to industry sources, the latest price adjustment reflects the company’s commitment to enhancing affordability while navigating increasing competition among local suppliers.
Market analysts note that the move is expected to influence pump prices nationwide, especially among independent marketers, many of whom source directly from the refinery.
“The new price gives room for improved margins for retailers and may translate into lower prices for consumers at the pump,” a Lagos-based marketer told Vanguard.
The Dangote Refinery, which began operations earlier this year, is seen as a game changer in Nigeria’s downstream oil sector, reducing the nation’s dependence on imports and supporting efforts to ensure energy security.