Dangote Refinery Cuts Petrol Price, Urges More Crude Supply for Local Refineries

The Dangote Petroleum Refinery has reduced its petrol gantry price from ₦828 to ₦699 per litre, offering relief to consumers ahead of the Yuletide season. The move comes as the Crude Oil Refineries Association of Nigeria (CORAN) appealed to President Bola Tinubu to ensure adequate crude supply to local refineries, enabling them to maintain affordable fuel prices.

Marketers noted that the price cut could reduce pump prices to around ₦750 per litre, marking the lowest level since the full deregulation of the petroleum sector in 2024. The reduction, praised by CORAN, demonstrates the refinery’s commitment to easing the economic burden of high fuel costs on Nigerian households and businesses.

CORAN highlighted Dangote’s operational excellence, describing the refinery’s recent achievements as a milestone in domestic fuel production. The association also urged the government to continue supporting domestic refineries through policy reforms, adequate feedstock supply, and fiscal incentives to strengthen Nigeria’s energy security.

The refinery’s consistent price reductions have challenged other fuel marketers, who have sometimes criticized the timing and market impact of these cuts. Nevertheless, Nigerians have welcomed the initiative, which is expected to influence broader pump price reductions by other marketers, including the Nigerian National Petroleum Company Limited.