The Dangote Petroleum Refinery has announced a fresh reduction in the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, to N820 per litre. This marks a N30 or 3.53% decrease from its earlier price of N850/litre and takes effect from Tuesday, August 12, 2025.
According to a post shared on X (formerly Twitter) by the Dangote Group, the new price applies to all major fuel marketers in partnership with the refinery, including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy. The ex-depot price is the rate depot owners sell petroleum products to fuel marketers and retail outlets.
Just days earlier, the Nigerian National Petroleum Company Limited (NNPCL) increased its petrol pump price to N895 per litre on Friday, August 8, 2025—an N20 hike from the previously announced N875. Similarly, on Thursday, August 7, Dangote Refinery adjusted its ex-depot price from N820 to N852 per litre before now reversing the increase.
The refinery also recently announced the arrival of 4,000 brand-new Compressed Natural Gas (CNG)-powered trucks in Lagos as part of a nationwide fuel distribution initiative set to begin on August 15. Industry experts, the Presidency, and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have praised the move as a major step toward cutting distribution costs, stabilising prices, and modernising Nigeria’s downstream sector.
Why This Price Cut Matters
With a refining capacity of 650,000 barrels per day, the Dangote Refinery is Africa’s largest and a game-changing infrastructure investment for Nigeria’s oil sector. By refining domestically and gradually replacing imports, the facility is expected to stabilise fuel supply, ease foreign exchange pressures, and lower fuel costs for consumers over time.
According to the National Bureau of Statistics (NBS) Premium Motor Spirit (Petrol) Price Watch for June 2025, the average retail price of petrol rose to N1,037.66 per litre compared to N750.17 in June 2024. Several states recorded pump prices well above the national average, reflecting ongoing distribution and transportation cost disparities.
Given Nigeria’s heavy dependence on petrol-powered generators and vehicles for both households and businesses due to erratic electricity supply, high fuel prices continue to drive up operational costs nationwide. The latest price cut from the Dangote Refinery could help cushion these costs—provided the savings are passed down the supply chain to the end consumer.
9am News Nigeria will continue monitoring developments in the country’s fuel pricing and distribution as the situation evolves.
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