The Dangote Petroleum Refinery has resumed full operations of its bulk sales, announcing a 7 percent increase in the gantry price of Premium Motor Spirit (PMS), also known as petrol, to ₦877 per litre from the previous ₦820. The refinery’s new price, though higher than before, still remains below the prevailing depot prices across the country.
According to market data obtained from Petroleumprice.ng, major depot owners such as Pinnacle and Rainoil currently sell petrol at ₦890 and ₦885 per litre respectively, while Optima and Matrix offer the product at ₦880 and ₦890 per litre. Oil marketers purchasing two million litres and above from Dangote Refinery are expected to enjoy slightly discounted rates.
Olatide Jeremiah, Chief Executive Officer of Petroleumprice.ng, noted that the downstream sector continues to experience a price war driven by the refinery’s dominant capacity. “With its 650,000 barrels per day production capacity, the Dangote Refinery is setting the pace in Nigeria’s petroleum market. We expect other depot owners to follow suit, and hopefully, prices will begin to drop across filling stations nationwide in the coming weeks,” he said.
Despite the refinery’s lower gantry price, many filling stations across the country were still selling petrol above ₦900 per litre as of yesterday.
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Obasi added that OGSPAN is committed to supporting the refinery through advocacy and public enlightenment initiatives aimed at educating Nigerians on the long-term benefits of local refining, including job creation, foreign exchange stability, and overall economic growth.
The Dangote Refinery, the largest single-train refinery in the world, continues to play a crucial role in reshaping Nigeria’s petroleum sector by reducing dependence on fuel imports and stabilizing supply across the country.
