The Dangote Petroleum Refinery has announced a reduction in its petrol gantry price, lowering it from ₦828 to ₦699 per litre, a decrease of ₦129, representing a 15.58 percent reduction.
The price adjustment marks a significant development in Nigeria’s downstream petroleum sector, where consumers have faced high fuel costs in recent months.
Industry observers say the latest reduction by the Dangote Refinery, Africa’s largest oil processing plant, could ease inflationary pressures and potentially lower pump prices across the country if marketers reflect the new ex-depot price.
The refinery, which began refining operations earlier this year, has emphasized its commitment to stabilizing the local fuel supply and supporting the government’s efforts to ensure energy affordability.
Analysts also note that the price cut may encourage healthy competition among marketers and help reduce Nigeria’s dependence on imported refined petroleum products.
