Dangote Refinery Announces Further Reduction In Petrol Price

Dangote Petroleum Refinery has again reduced the price of Premium Motor Spirit (PMS), commonly known as petrol.

Naija News learnt that the new price is set at ₦835 per litre, down from ₦865 per litre, marking a 3.5 per cent decrease.

This price adjustment follows the recent decline in global crude oil prices, which have dropped to $64 per barrel from over $70 per barrel in recent weeks.

This significant development follows a previous reduction in its price from ₦880 to ₦865 per litre but oil marketers did not pass on the savings to consumers.

The Dangote Refinery, with a capacity of 650,000 barrels per day, plays a crucial role in Nigeria’s energy landscape.

Meanwhile, the future of Nigeria’s Naira-for-Crude policy remains uncertain as sources close to the ongoing negotiations suggest that all parties involved are set to reconvene soon to determine the next steps.

The six-month agreement between the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Petroleum Refinery officially expired on March 31, 2025, without renewal. This has led to the suspension of the refinery’s sale of refined petroleum products in Naira.

Despite the suspension, the Dangote refinery has continued to process crude oil, with reports indicating that approximately 400,000 barrels per day (bpd) of crude have been processed in 2025 so far.

Notably, 35% of this crude supply has come from international imports, with significant quantities sourced from Brazil and Equatorial Guinea, marking a shift from local supply constraints.