Dangote Refinery Cuts Petrol Price to N825 Per Litre

Dangote Refinery has announced a reduction in the ex-depot (gantry) price of petrol by N65 per litre, lowering it from N890 to N825 per litre. The new pricing will take effect from February 27, 2025.

This adjustment comes as part of the refinery’s efforts to stabilize fuel prices in the country amid fluctuating global oil markets and high importation costs.

New Regional Pricing for Petrol

Following the reduction, fuel prices at MRS filling stations across Nigeria will vary depending on location. The adjusted retail prices are as follows:

• Lagos – N860 per litre
• South-West – N870 per litre
• North – N880 per litre
• South-South & South-East – N890 per litre

The price differences across regions reflect factors such as transportation costs and supply logistics.

Impact on Consumers and the Economy

The reduction in petrol prices is expected to bring some relief to Nigerians, who have been grappling with high fuel costs since the removal of subsidies. While petrol remains expensive, the downward adjustment signals a possible trend toward more competitive pricing as Dangote Refinery ramps up production.

Economic analysts believe that this price cut could ease inflationary pressure on transportation and goods, particularly if other marketers follow suit. However, some stakeholders argue that prices are still significantly high compared to pre-subsidy removal rates.

Dangote Refinery’s Role in Fuel Supply

Dangote Refinery, which began operations in 2024, has positioned itself as a major player in Nigeria’s fuel supply chain, reducing dependence on imported refined products. The refinery’s ability to lower ex-depot prices suggests it may soon play a bigger role in regulating fuel costs across the country.

Industry experts suggest that if the refinery continues to refine and supply products locally, further price reductions could be seen in the coming months.

What’s Next?

While the price reduction is a welcome development, Nigerians will be watching closely to see whether it will lead to further cuts in fuel prices across the country. Market trends, exchange rates, and the refinery’s production capacity will all play a role in determining future petrol costs.

For now, the new pricing structure will take effect on February 27, 2025, giving consumers some relief, albeit marginal, from the rising cost of living.