Dangote Refinery Cuts Petrol Price Again to N820 Per Litre
…Expands Distribution Network
By Patience Ikpeme
Dangote Refinery, has announced a further reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol.
Effective immediately, the price has been lowered from N840 per litre to N820 per litre, marking the second such reduction within a week. This follows a previous adjustment where the ex-depot price dropped from N880 to N840 per litre.
Mr. Anthony Chiejina, spokesperson for the Dangote Group, confirmed the latest price adjustment in Lagos, stating the new price took effect immediately. The earlier reduction to N840 per litre was a response to global crude oil market shifts, particularly during a 12-day geopolitical crisis in the Middle East that had temporarily increased crude oil prices.
With assurances of a steady supply of petroleum products, more independent marketers are joining the growing list of distributors retailing Dangote Refinery’s high-quality petroleum products across the country. Existing partners of the refinery—including MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil—are expected to reflect the new pricing at their retail outlets, potentially leading to lower pump prices for consumers.
Additionally, several new marketing companies have become part of Dangote’s expanding distribution network. These include TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., and Soroman Nigeria Ltd. Other companies now on the growing list are Jezco Oil Nigeria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, and Mamu Oil, among others.
This expansion reflects the refinery’s commitment to broadening its domestic fuel distribution footprint, offering competitive pricing and improving access to refined products throughout Nigeria.
In a related development, the Dangote Refinery recently revealed a substantial investment of over N720 billion towards deploying 4,000 Compressed Natural Gas (CNG)-powered trucks for the nationwide distribution of petroleum products. This strategic initiative is projected to save Nigerians over N1.7 trillion annually in logistics and fuel distribution costs. The refinery’s management indicates that this step will see it absorb over N1.07 trillion annually in fuel distribution expenses, a significant move to reduce the burden on consumers.
The initiative is also poised to provide substantial benefits to over 42 million Micro, Small and Medium Enterprises (MSMEs) across the country by reducing their energy costs and thereby improving profitability. By eliminating transportation costs for fuel marketers and large-scale consumers, the move is expected to contribute to lower pump prices and help moderate inflation across the economy.
Further enhancing its distribution strategy, Dangote Refinery announced earlier that, starting August 15, it will begin the direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers. This direct delivery model aims to streamline the supply chain and further contribute to price stability and availability of petroleum products nationwide.
