Dangote Refinery Announces Major Fuel Price Reduction to N865 Per Litre, Signaling Relief for Consumers

In a significant development for Nigeria’s downstream oil sector, the Dangote Petroleum Refinery has officially slashed the price of petrol to N865 per litre, marking a pivotal move likely to impact fuel pricing and supply dynamics nationwide.

According to a communication issued by the refinery to petroleum marketers and key distributors, the ex-gantry loading cost of petrol has been reduced to N865 per litre. This announcement comes shortly after Fusion chronicle Nigeria exclusively predicted the likelihood of such a price revision, citing internal deliberations at the refinery.

This price adjustment is expected to offer much-needed relief to Nigerians grappling with rising living costs and persistent inflation, largely driven by high energy prices. Industry analysts suggest that the reduction could prompt a ripple effect across the fuel distribution chain, potentially leading to more competitive pricing at the pump if intermediaries reflect the refinery’s new rate.

Located in Lagos and widely regarded as Africa’s largest single-train refinery, the Dangote facility commenced fuel production earlier this year and has since begun influencing the country’s energy landscape. The price cut reinforces the company’s commitment to reducing Nigeria’s dependency on imported refined petroleum products and stabilizing local fuel prices.

Market watchers will now turn their attention to how swiftly this reduction will be passed on to end users and whether it signals a trend toward further price moderation in the coming months.