By Ayomide Otitoju
In a move set to further ease the cost of fuel for Nigerians, the Dangote Refinery has announced a fresh reduction in the ex-depot price of Premium Motor Spirit (PMS) from ₦840 to ₦820 per litre, effective immediately. This marks the second reduction within a week, following an earlier cut from ₦880 to ₦840.
Spokesperson for the Dangote Group, Mr. Anthony Chiejina, confirmed the development on Tuesday in Lagos, noting that the price cut reflects the company’s commitment to stabilising the fuel market amid global price volatility.
“The latest reduction follows recent improvements in global crude prices and our commitment to ensuring Nigerians benefit from the gains,” Chiejina said.
The price adjustment comes as more independent marketers continue to align with Dangote’s distribution network. Long-standing partners such as MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil are expected to reflect the new pricing at their retail outlets.
Additionally, several new distributors have joined the network, including TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., and N.U. Synergy Ltd. Others include Jezco Oil, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, and Mamu Oil.
The Dangote Refinery—recognized as the largest single-train refinery in the world—continues to solidify its presence in Nigeria’s fuel market by offering competitive prices and improving nationwide access to refined petroleum products.
As part of its broader distribution strategy, the refinery recently announced a ₦720 billion investment to deploy 4,000 Compressed Natural Gas (CNG)-powered trucks, which will be used for nationwide product delivery. This initiative is projected to save Nigeria over ₦1.7 trillion annually by cutting down distribution costs and eliminating the need for third-party transportation.
“We are absorbing more than ₦1 trillion in fuel distribution costs annually through this initiative,” the company stated. “This will significantly reduce pump prices, lower inflation, and enhance profitability for over 42 million Micro, Small, and Medium Enterprises (MSMEs).”
Starting August 15, the refinery will begin direct deliveries of petrol and diesel to filling stations, industrial plants, and other high-volume consumers across the country—a move expected to further streamline supply chains and reduce end-user costs.
