The Dangote Refinery has again slashed its refined petroleum product prices to make them cheaper, cutting its ex-depot rate to ₦835 per litre.
This comes after implementing a ₦15 price reduction in its loading cost for Premium Motor Spirit, also known as petrol.
The new price reduction represents a ₦30 reduction from ₦865 per litre implemented six days ago, marking a 3.5 per cent decrease, and a ₦45 reduction from the ₦880 per litre sold by the facility last Wednesday.
This price slash marks Dangote’s third downward adjustment in under six weeks.
Chronicle NG gathered that the refinery informed its customers in a notice sent out on Wednesday morning.
Our correspondent saw a pro forma invoice and checked and saw that the petroleumprice.ng also confirmed the development.
It added that the increased pricing includes charges levied by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The amended price structure shows that PMS at the gantry will now sell for ₦835 per litre, inclusive of NMDPRA statutory fees. Coastal sales are still on hold. The diesel gantry costs $608 plus a $70 surcharge. Payment options include naira (₦1,650/$) or USD.
Coastal sales are also on hold. Jet fuel will be priced at $664.75, including a $42 gantry surcharge and a $22 coastal surcharge. Prices for cooking gas at both gantry and coastline sites are presently suspended.
On Wednesday, there were reports of a possible price cut after the landing cost of imported petrol dropped to ₦853 per litre on Tuesday.
This development comes after marketers received regulatory authority to import 117,000 metric tonnes—equivalent to 156.897 million litres—of petrol within eight days, from April 8 to 16, 2025, to enhance fuel supplies nationally.
These data were revealed in separate documents obtained by our journalist from the Nigerian Ports Authority and the Nigerian Major Energy Marketers Association.
Dealers reported a ₦3 decrease in spot import parity into tanks to ₦853 per litre, including transportation, import fees, and exchange rates, from ₦856.75 last Monday and ₦852.02 Tuesday.
The document stated that on-the-spot sales at the NPSC-NOJ terminal dropped to ₦853.12 per litre, while the 30-day average cost similarly declined to ₦844.84 per litre.
During the period, marketers brought in six vessels transporting 117,000 metric tonnes via Tin Can Port in Lagos and Calabar Port in Cross River State.
Importantly, the ongoing price decline corresponds with the resumption and full implementation of the Naira-for-Crude arrangement with local refiners, following its previous suspension.
The Ministry of Finance announced this in a statement posted last week on its official X handle, titled “Update on the Crude and Refined Product Sales in Naira Initiative”.
The announcement followed a meeting on Tuesday between the Minister of Finance, Wale Edun, and representatives from Dangote Refinery, a major beneficiary of the accord to review progress and discuss ongoing implementation concerns.
The committee noted that the policy is not a temporary measure but rather a long-term strategy to lessen Nigeria’s reliance on foreign money for petroleum.
It further stated that the project is a significant policy directive aimed at promoting sustainable local refining and strengthening energy security.
