Dangote Refinery Slashes Petrol Price to ₦835 Per Litre

In a move that could offer some relief to motorists and oil marketers, the Dangote Petroleum Refinery and Petrochemicals has once again reduced the ex-depot (gantry) price of petrol—this time to ₦835 per litre.

This marks the second price slash by the $20 billion Lagos-based refinery in April, reflecting an apparent shift toward more consumer-friendly pricing amid rising energy concerns.

The price cut was confirmed by an official of the refinery on Wednesday, who told Channels Television that the gantry price had been reviewed downward from ₦867 to ₦835. A public statement from the refinery is expected shortly. Industry sources and verification through petroleumprice.ng also confirmed the adjustment.

With this latest reduction, several filling stations—including MRS Oil & Gas, Ardova Plc, Heyden, and others who have special agreements with the Dangote Refinery—are now expected to adjust their retail pump prices to below ₦900 per litre.

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While this isn’t a dramatic price drop, it does provide some relief in a market that has recently seen soaring petrol prices and tightening consumer wallets.

This price adjustment comes shortly after a closed-door meeting between Dangote Refinery executives and the Minister of Finance, Wale Edun, held last week.

At the heart of the meeting was the reaffirmation of the “naira-for-crude” policy—a government-backed initiative aimed at supporting sustainable local refining by allowing local refineries to purchase crude oil in naira rather than dollars.

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The policy had earlier faced resistance under the former leadership of the Nigerian National Petroleum Company Limited (NNPCL), but has now been fully reinstated as a “key policy directive”, according to government officials.

Dangote Refinery’s pricing decisions are increasingly influential in Nigeria’s downstream oil sector. As the largest single-train refinery in the world, its ability to refine and distribute locally has been viewed as a game-changer for Nigeria’s energy independence.

This latest price reduction not only signals a potential for more affordable fuel but also reflects a tightening collaboration between private sector players and government to stabilize the local market.

As more stakeholders come on board with the naira-for-crude initiative, industry watchers are hopeful that competition, transparency, and local refining capacity will continue to drive prices down and ease Nigeria’s dependency on fuel imports.