In a renewed effort to assert market dominance and offer relief to Nigerian consumers, the Dangote Petroleum Refinery has announced a second round of price cuts on Premium Motor Spirit (PMS), reducing petrol prices to between N875 and N905 per litre across Nigeria.
This adjustment represents a N15 per litre reduction and is seen as a strategic move in response to a growing glut in imported fuel and intensifying competition in the downstream oil sector. The announcement, posted Thursday on the refinery’s official channels, applies to all major distribution partners including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy.
In key regions like Lagos and Abuja, new pump prices have taken effect, with Optima Energy pegging the Abuja rate at N895 per litre. Lagos residents now pay N875 per litre, while motorists in the North-East and South-South regions pay N905.
Price Breakdown by Region:
Lagos: N875
South-West: N885
North-West & North-Central: N895
South-South & South-East: N905
The price drop comes amid revelations that Dangote Refinery is expecting a massive shipment of 9 million barrels of US light sweet WTI crude in June, the largest monthly delivery since the refinery began operations in early 2024. Trading giants Vitol and Petraco are among those facilitating the shipments, highlighting Dangote’s continued sourcing flexibility.
According to a statement signed by Anthony Chiejina, Group Chief Branding and Communications Officer, the price reduction reflects Dangote’s commitment to alleviating economic pressure on Nigerian consumers while stabilizing the market despite global oil price volatility.
“The Dangote refinery remains dedicated to delivering high-quality and affordable fuel. Our quality petrol and diesel are refined for better engine performance and are environmentally friendly,” the statement said.
Consumers have also been urged to report non-compliance with the revised pricing to Dangote’s hotline numbers: +234 7074702099 or +234 7074702100.
This move follows the return of a refund incentive policy for marketers, and coincides with increased import activities by independent oil marketers. The Tanker Position Report by Blue Sea Maritime confirmed the discharge of over 370,000 metric tonnes of petrol at Nigerian seaports between May 11 and 20, 2025—equivalent to over 496 million litres.
While Dangote’s price reduction offers short-term relief, it has also triggered instability in the retail segment of the market. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns that over 70% of its 7,000 members—roughly 4,900 stations—have ceased operations due to unsustainable margins and limited access to bank loans.
PETROAN President, Billy Gillis-Harry, lamented, “We are struggling to get credit from banks. Without financial backing, most retail outlets can’t cope with the current volatility in fuel pricing.”
Further compounding the situation, the Nigerian National Petroleum Company (NNPC) has allocated six June-loading crude cargoes to the refinery, including premium grades such as Bonny Light, Brass River, Escravos, Okwuibome, and Yoho, totaling 6 million barrels. Market analysts predict a slight hike in the NNPC’s official selling prices by month-end, which may affect the competitiveness of Nigerian crude compared to cheaper US WTI.
As the price war continues and global oil market dynamics shift, all eyes remain on the Dangote Refinery and its ability to anchor Nigeria’s downstream sector, long plagued by supply instability and foreign dependence.