Dangote Refinery Cuts Petrol Gantry Price to N1,200 per Litre

Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for Premium Motor Spirit (petrol) to N1,200 per litre, a move that could ease supply costs across Nigeria’s downstream fuel market.

The refinery also set its coastal price at N1,153 per litre, offering an alternative pricing structure for marine deliveries to depots along the southern corridor.

The company’s spokesperson, Anthony Chiejina, said the adjustment reflects a revision of its internal pricing framework amid volatility in global oil markets.

“Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for petrol to N1,200 per litre and its coastal price to N1,153 per litre,” he said, adding that tensions in the Middle East continue to shape global oil dynamics.

He noted that the revised pricing is expected to influence costs across distribution channels, including depots and retail outlets.

The new rate is likely to prompt marketers to reassess their landing costs, particularly those sourcing products locally rather than relying on imports. The coastal price, meanwhile, provides additional flexibility for distributors operating via marine logistics.

The price cut follows a period of increases linked to geopolitical developments, including the US–Iran tensions 2026 escalation, which had pushed petrol prices from around N840 per litre to about N1,300 in recent weeks. The latest adjustment brings the refinery’s price down from N1,275 to N1,200 per litre, suggesting a possible, though limited, easing in pump prices.

At the same time, the refinery continues to face constraints in crude supply. Data cited by industry sources indicate that the facility has received significantly less crude than required to operate at full capacity in recent months.

The refinery, which needs about 19.77 million barrels of crude monthly, reportedly recorded shortfalls between October 2025 and mid-March 2026, raising concerns about feedstock availability despite Nigeria’s status as a major oil producer.

Under the Petroleum Industry Act, priority is meant to be given to domestic supply, but officials familiar with the matter say gaps remain between policy and actual deliveries.

Separately, Managing Director David Bird said the refinery has been receiving fewer cargoes than agreed under the naira-for-crude arrangement, further complicating efforts to stabilise output.