Dangote Refinery Reduces Petrol Price to N865 per Litre
The Dangote refinery has announced a price reduction for petrol, bringing the ex-gantry cost down to N865 per litre. This is a welcome N15 drop from the previous price of N880 per litre, which was still in effect as of Wednesday.
The price change was officially communicated to petroleum marketers and customers in a notice sent on Thursday morning. A Pro forma invoice and checks on petroleumprice.ng confirmed the update, offering hope for reduced fuel prices across the country.
This move was not entirely unexpected. Fuel marketers had earlier hinted that the refinery, which has the capacity to process 650,000 barrels of crude per day, might cut petrol prices before the week ended. Many Nigerians have been watching closely, hoping for relief from high fuel costs.
Chinedu Ukadike, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), also spoke on the matter. He confirmed that a price drop was on the way, especially after the government stepped in to support local refineries.
On Wednesday, the Federal Executive Council ordered the full enforcement of the suspended Naira-for-Crude agreement. This policy allows local refineries to receive crude oil in exchange for naira instead of dollars—a move that could help ease pressure on fuel prices and support domestic production.
The latest development by the Dangote refinery may signal the beginning of wider fuel price adjustments across the country, giving both marketers and consumers something to cheer about.
