Nigeria’s fuel market has received another boost as the Dangote Petroleum Refinery announced a fresh reduction in its ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol.

The refinery lowered its gantry price from ₦1,175 per litre to ₦1,125 per litre, representing a ₦50 reduction per litre. The new pricing takes immediate effect for marketers purchasing fuel directly from the refinery.

This latest adjustment comes barely a week after the refinery reduced its petrol price by ₦75 per litre, bringing the rate down from ₦1,250 to ₦1,175 per litre. Industry observers say the consecutive reductions reflect improving conditions in the global oil market and increased competition within Nigeria’s downstream petroleum sector.

Analysts expect the development to eventually translate into lower pump prices at filling stations across the country. However, retail price reductions may not happen immediately, as marketers typically need time to sell existing stock purchased at higher prices before adjusting their pump rates.

The refinery’s repeated price cuts are being viewed as a positive step toward easing transportation costs and reducing pressure on household expenses, especially at a time when Nigerians continue to grapple with inflation and high living costs.

Key Facts

• New gantry price: ₦1,125 per litre
• Previous price: ₦1,175 per litre
• Reduction: ₦50 per litre
• Total reduction within June 2026: ₦125 per litre (from ₦1,250 to ₦1,125)

Pidgin Summary

Dangote Refinery don reduce petrol price again. The company cut the gantry price from ₦1,175 to ₦1,125 per litre, meaning marketers go buy fuel cheaper. If marketers pass the reduction to customers, petrol price for filling stations fit come down soon. This na the second fuel price cut by Dangote within one week, and many Nigerians dey hope say e go help reduce transport fare and cost of living. ⛽🇳🇬