Dangote Petroleum Refinery has reduced its ex-gantry price of Premium Motor Spirit (PMS) from ₦1,125 to ₦1,075 per litre, marking another significant price cut aimed at strengthening its position in Nigeria's downstream petroleum market.
The refinery also aligned its coastal loading price at ₦1,075 per litre, while suspending its consortium members arrangement which includes NIPCO Plc/11 Plc, MRS, TotalEnergies, Conoil, AA Rano, AYM Shafa, Rainoil/Eterna, Ardova Plc, NNPC Retail and others. As a result, petrol loading at the refinery's gantry is now open to all qualified marketers.
Industry sources told Petroleumprice.ng that the move is designed to discourage petrol importation by making locally refined fuel more competitive. The strategy is also expected to widen product access, increase market competition and improve nationwide distribution.
The latest adjustment comes amid sustained declines in global crude oil prices and follows recent calls by the Federal Government and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for petroleum product prices to reflect prevailing market realities.
The new pricing is expected to put further pressure on fuel importers and private depot operators, with industry players anticipating another round of reductions in depot and retail pump prices across the country.