Jet fuel prices in Nigeria have dropped by about 13.04 per cent to ₦2,000 per litre following the release of a ₦1,820 per litre gantry price by the Dangote Petroleum Refinery, signalling an immediate market response to increased pricing transparency.
Market tracking by Petroleumprice.ng shows that prior to this development, aviation fuel was sold by marketers at around ₦2,300 per litre. The adjustment to ₦2,000 reflects a ₦300 reduction within a short window after the refinery publicly set its supply benchmark.
The price correction comes as Dangote Refinery moves to publish its gantry prices, a step aimed at improving visibility in the pricing structure and reducing wide margins between supply cost and final market rates. The refinery’s pricing disclosure effectively introduced a reference point that buyers and regulators can now track.
Industry checks indicate that the adjustment is also being influenced by increased surveillance and compliance monitoring by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, particularly around pricing practices in the downstream segment.
The combination of a publicly available gantry price and tighter regulatory oversight appears to have forced a realignment in the market, with marketers adjusting rates closer to supply fundamentals.
Analysts say the development highlights the role of transparency in price discovery, noting that the absence of clear benchmarks previously allowed for significant price deviations within the distribution chain.
While prices remain elevated relative to pre-crisis levels, the recent decline suggests that market forces are beginning to respond to improved pricing clarity and regulatory pressure.