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Dangote Petroleum Refinery has announced a further reduction in the gantry price of Premium Motor Spirit (PMS), popularly referred to as petrol.
The latest revision brings the price down to N825 per litre from N835, as the company intensifies efforts to stay competitive in Nigeria’s evolving fuel market.
This marks the second price drop by the refinery in just over a month. In April, Dangote had already slashed the price from N865 to N835 per litre, citing its commitment to delivering more value to customers and easing fuel distribution challenges in the domestic market.
With a production capacity of 650,000 barrels per day, the Lagos-based refinery is Africa’s largest and aims to transform Nigeria from a fuel-importing nation to a self-sustaining supplier.
The latest price adjustment is seen as a calculated move to attract more independent marketers and build customer loyalty.
According to market analysts, the reduction could trigger price adjustments downstream, leading to potential savings for end-users.
It also reflects the growing competition among local refineries and marketers seeking to gain a stronger foothold in Nigeria’s liberalised petroleum market.
The price change is expected to influence the overall supply dynamics in the weeks ahead.