Dangote Refinery has announced a further reduction in its ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, marking the second price cut in just two weeks.
According to a fresh price template released through the company's X account on Tuesday, July 8, 2025, the 650,000-barrel-per-day refinery has slashed its fuel price from N840 to N820 per litre, with immediate effect.
This latest reduction follows an earlier price cut on July 1, when the refinery had reduced its ex-depot petrol price to N840 per litre. The consecutive price reductions are creating ripple effects across Nigeria's petroleum retail sector.
In response to Dangote's initial price reduction, the Nigerian National Petroleum Company Limited (NNPCL) adjusted its retail petrol price to N910 per litre in Abuja, demonstrating the competitive dynamics now emerging in Nigeria's fuel market.
Similarly, MRS filling station, a retail partner of Dangote Refinery, recently revised its petrol prices downward to N905 per litre in Abuja and N895 per litre in Lagos State, further reflecting the cascading effect of the refinery's pricing strategy.
Industry analysts suggest that this competitive pricing environment could potentially lead to further reductions at the pump for Nigerian consumers, who have been grappling with high fuel costs in recent months.
The Dangote Refinery, with its substantial production capacity of 650,000 barrels per day, continues to position itself as a significant player in Nigeria's petroleum sector, potentially reducing the country's dependence on imported refined products.
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