On Wednesday, Dangote Refinery announced a reduction in the ex-depot price of Premium Motor Spirit to N835 from the previous N865 per litre.
The $20 billion refinery communicated this adjustment to its clientele through a notice disseminated on Wednesday morning.
This adjustment signifies a new decline of N30 in the pricing of Dangote petrol.
It is pertinent to note that merely six days prior, Dangote Refinery had decreased its ex-depot petrol price to N865 per litre.
In light of the recent reduction in fuel prices, it is anticipated that Dangote Refinery’s partners, including MRS filling stations, will lower their retail prices from N940 per litre to a revised figure in the imminent future.
This development coincides with separate reports from the Nigerian Port Authority and the Major Energies Marketers Association of Nigeria, indicating that marketers have obtained regulatory authorization to import 117,000 metric tonnes—equivalent to 156.897 million litres—of petrol within an eight-day period, from April 8 to 16, 2025, in order to enhance fuel supply throughout the nation.
Previously, the Independent Petroleum Marketers Association elucidated that the potential renewal of the naira-for-crude agreement involving the Nigerian government, Dangote Refinery, and other refining entities would not lead to a substantial decrease in the price of Premium Motor Spirit, owing to the prevailing dynamics of demand and supply, as well as the depreciation of the foreign exchange rate.
