In a move expected to ease the burden on motorists and businesses across Nigeria, Dangote Petroleum Refinery has slashed the ex-depot price of Premium Motor Spirit (PMS) from ₦850 to ₦820 per litre, effective Tuesday, August 12, 2025.
The announcement, made through a statement by the Dangote Group’s Chief Branding and Communications Officer, Anthony Chiejina, signals a potential drop in pump prices to around ₦865 in Lagos and ₦875 in Ogun and surrounding states — a relief for consumers grappling with persistent fuel price hikes in recent months.
“As part of our unwavering commitment to national development, Dangote Petroleum Refinery assures the public of a consistent and uninterrupted supply of petroleum products,” the statement partly read.
The Dangote Refinery petrol price adjustment follows widespread public outcry after filling stations, including those owned by the Nigerian National Petroleum Company Limited (NNPCL), raised petrol pump prices to ₦900 per litre or higher in Lagos and Ogun States last weekend. This was despite a decline in global crude oil prices from about $69 to $66 per barrel.
Retailers partnering with Dangote Refinery, including Ardova Plc and Heyden Petroleum, were also observed to have increased their petrol pump price above ₦900, creating concerns over possible profiteering in the downstream sector.
On Monday, motorists along the Lagos-Ibadan Expressway reported significant price variations between stations, even though there was no sharp rise in crude prices or changes in the naira-to-dollar exchange rate to justify such increases.
According to Joseph Obele, the National Publicity Secretary of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), marketers had been anticipating a price drop this week due to market pressures and public backlash. Dangote’s price cut now appears to be delivering on that expectation.
In addition to lowering fuel costs, Dangote Refinery revealed plans to roll out 4,000 Compressed Natural Gas (CNG)-powered trucks for fuel distribution nationwide, beginning August 15, 2025.
This move aligns with the Nigerian government’s ongoing CNG transition agenda, aimed at reducing dependence on petrol and diesel while cutting transportation costs for goods and commuters. The refinery’s investment in cleaner, cheaper transport solutions is expected to improve supply chain efficiency, particularly to remote areas where high logistics costs often inflate pump prices.
“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 CNG-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” the statement said.
The Dangote Refinery’s decision could have a ripple effect across Nigeria’s economy. Lower petrol prices would likely reduce transportation and production costs, ease inflationary pressure, and offer some relief to households already struggling with high food prices, electricity tariff hikes, and rising rent.
However, market watchers caution that sustained affordability will depend on the stability of crude oil prices, the exchange rate, and the government’s regulatory stance on fuel pricing.
For now, many Nigerians are hopeful that this price reduction marks the beginning of a gradual return to more stable and consumer-friendly fuel pricing.