Dangote Refinery slashes petrol price again to N835/litre in Nigeria 

The latest reduction represents a N30 cut from the previous rate of N865 per litre implemented six days ago, and a cumulative N45 drop from the N880 per litre recorded earlier last week.

This translates to a 3.5% price cut, reinforcing the refinery’s commitment to making refined petroleum products more affordable amid Nigeria’s persistent energy cost challenges.

This move follows an earlier N15 reduction in the refinery’s gantry (loading) price for petrol, announced just days prior. Despite these price adjustments, oil marketers have yet to pass on the savings to consumers, with retail pump prices remaining largely unchanged across much of the country.

Industry analysts view the refinery’s pricing strategy as a calculated effort to gain market share, undercut imported fuel, and apply downward pressure on domestic fuel prices.

The recent price cut may also be linked to a broader trend in the global oil market, where crude prices have dropped by 13% this month to approximately $64 per barrel, driven by rising trade tensions.

The Dangote Refinery, with its 650,000 barrels-per-day capacity, is Africa’s largest and one of the most strategic infrastructure investments in Nigeria’s energy sector. By refining locally and gradually replacing imports, the facility has the potential to stabilize fuel supply, reduce forex pressure, and lower fuel prices for Nigerian consumers in the long term.

With global oil prices remaining volatile and the naira still struggling to regain ground, the refinery’s pricing decisions could help cushion Nigerians from the full impact of external shocks—provided the supply chain passes on the cost benefits.

Earlier this month, the Federal Government maintained its commitment to the Crude and Refined Product Sales in Naira initiative, describing it as important to alleviating the country’s foreign exchange (forex) pressures and ensuring long-term energy security.

This reaffirmation came during a high-level update meeting of the Technical Sub-Committee on the Crude and Refined Product Sales in Naira on April 7.

In attendance were senior officials from across the oil and gas value chain, including the Chief Financial Officer of NNPC Limited, Mr. Dapo Segun, representatives from NNPC Refineries and NNPC Trading, Dangote Petroleum Refinery and Petrochemicals, as well as key regulatory stakeholders such as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Central Bank of Nigeria (CBN), Nigerian Ports Authority (NPA), and a representative of Afreximbank.