- Dangote Petroleum Refinery cuts ex-gantry petrol price to N828 per litre.
- Price reduction follows a N49 drop from previous N877 per litre.
- Refinery output now surpasses Nigeria’s demand, producing over 45 million litres daily.
- Oando Plc pauses petrol imports due to rising local refining capacity.
The Dangote Petroleum Refinery has reduced its ex-gantry petrol price to N828 per litre, marking a N49 decline from the previous N877 per litre. The move comes as the refinery ramps up production, aiming for 1.4 million barrels per day, which would surpass the world’s largest refinery in Jamnagar, India. The development signals growing local capacity and rising self-sufficiency in Nigeria’s petroleum sector.
Sources from Dangote Petroleum Refinery confirmed the price reduction, stating, “The refinery reduced its petrol price to N828 per litre.” The adjustment comes as part of the refinery’s broader plan to increase production and meet both domestic and regional demand efficiently.
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The refinery recently reported that its supply of petroleum products now exceeds the country’s daily consumption. Currently, Dangote Refinery is loading over 45 million litres of petrol (PMS) and 25 million litres of diesel every day, a quantity higher than Nigeria’s total demand. To ensure smooth distribution nationwide, the refinery is collaborating closely with regulatory bodies and its distribution partners.
In response to this growing local supply, Oando Plc announced a “strategic pause” on petrol imports. Wale Tinubu, Group Chief Executive of Oando, said the trading segment faced revenue pressure due to reduced PMS imports.
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He emphasized that the expansion of Dangote Refinery’s capacity is a positive development that strengthens Nigeria’s energy security and self-reliance.
The combination of local production growth, efficient distribution, and strategic adjustments by importers marks a turning point for Nigeria’s downstream petroleum sector, offering potential relief for consumers across the country.
