Victor EzejaDangote Refinery has announced a reduction of its ex-gantry price of Premium Motor Spirit (PMS), also known as petrol to ₦840 per litre.
This was confirmed in a statement released by Anthony Chiejina, Chief Corporate Communications Officer of Dangote Group, on Monday.
Join our WhatsApp ChannelThe company said the new price took effect on Monday, 30 June 2025. This reflects a ₦40 reduction from the previous price of ₦880 per litre.
The petrol price cut followed the drop in global crude oil prices in recent days. Brent Crude declined by 1.54 per cent to $67.61 per barrel on Monday, 30 June, from $68.67 on 23 June 2025.
Oil prices had jumped to about $80 per barrel when the Israel-Iran conflict escalated in the middle of last month. The oil price rally pushed up Dangote refinery petrol price from ₦825 to ₦880 one week earlier.
Chiejina said the latest price cut was in response to the drop in crude oil prices in the international market.
The 650,000 barrels per day refinery recently announced plans to deploy 4,000 trucks powered by Compressed Natural Gas (CNG) to distribute petrol and diesel to marketers across Nigeria free of charge.
The company said it will invest ₦720 billion to implement the initiative that will save Nigerians over ₦1.7 trillion annually and also eliminate fuel scarcity.
READ ALSO: Benefits Of Dangote Refinery’s PMS, Diesel Distribution Plan
The announcement of the initiative has received mixed reactions from marketers and other stakeholders in the downstream petroleum industry.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) expressed worry that the refinery’s plan to embark on the distribution could create a monopoly and result in significant job losses in the fuel retail sector.
However, the Independent Petroleum Marketers Association of Nigeria (IPMAN), welcomed the initiative, saying it would help to reduce cost and also enable them have more access to fuel in their retail outlets.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
