Dangote Petroleum Refinery & Petrochemicals has reduced the gantry price of Premium Motor Spirit to N1,200 per litre, with its coastal price adjusted to N1,153 per litre, a move that could ease pressure on fuel costs across Nigeria.
The announcement was confirmed by Dangote Group spokesperson, Anthony Chiejina, who said the adjustment reflects a review of the refinery’s pricing structure in response to shifting global conditions.
The decision comes at a time of continued uncertainty in the international oil market, largely driven by geopolitical tensions in the Middle East, which have influenced crude prices and refined product costs worldwide.
Industry stakeholders say the price cut is likely to have a direct impact on Nigeria’s fuel supply chain. Marketers sourcing products from the refinery may begin to adjust their landing costs, particularly as more operators reduce reliance on imported fuel in favour of local refining.
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The revised coastal price is also expected to benefit distributors operating in southern Nigeria, where marine logistics play a central role in transporting fuel to depots and retail outlets.
Analysts note that while the reduction may not immediately translate into uniform pump price cuts nationwide, it sets a new benchmark that could influence retail pricing in the coming days as market forces adjust.
The development is being closely watched by consumers and industry players alike, especially as Nigerians continue to grapple with high energy costs and broader economic pressures.
