Dangote Refinery has further reduced the ex-depot price of Premium Motor Spirit (PMS) from ₦840 to ₦820 per litre, marking the second price cut within a week. The new pricing takes effect immediately.
The latest reduction follows an earlier drop from ₦880 to ₦840 per litre, which was influenced by global oil market volatility triggered by the recent 12-day geopolitical crisis in the Middle East.
Confirming the development, Dangote Group’s spokesperson, Anthony Chiejina, said in Lagos: “PMS price has been reduced from ₦840 to ₦820 per litre effective immediately.”
As supply from the world’s largest single-train refinery increases, more independent marketers are joining the company’s expanding network of distributors. Dangote’s high-quality refined products are now reaching deeper into retail outlets across Nigeria.
Existing partners such as MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil are expected to reflect the new pricing at their fuel stations.
In addition, new marketers have joined the distribution chain. These include:
TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., Soroman Nigeria Ltd., Jezco Oil Nigeria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, and Mamu Oil.
As part of its strategy to reduce fuel distribution costs and combat inflation, Dangote Refinery has invested over ₦720 billion in a new fleet of 4,000 Compressed Natural Gas (CNG)-powered trucks. This initiative is projected to save over ₦1.7 trillion annually for the Nigerian economy by eliminating transportation costs for fuel marketers and large-scale users.
According to the company, this investment will also absorb over ₦1.07 trillion annually in distribution costs and directly benefit over 42 million Micro, Small, and Medium Enterprises (MSMEs) by reducing energy expenses and increasing profitability.
The refinery has also announced that from August 15, it will begin direct delivery of petrol and diesel to retail outlets, industrial plants, and other high-volume consumers, bypassing intermediaries and reducing overall distribution inefficiencies.
