LAGOS – Dangote Petroleum Refinery has reduced the gantry price of petrol to ₦828 per litre, representing a 5.6% decrease from the previous ₦877 per litre.
The price reduction comes despite rising global crude oil prices, which reached $64 per barrel, and is attributed to strengthened crude supply arrangements between the refinery and NNPC Limited under the naira-for-crude framework.
Industry reports indicate the new pricing remains below import parity, giving Dangote Refinery a competitive advantage in the domestic market. The reduction is expected to provide relief to fuel marketers and consumers nationwide.
The development coincides with Nigeria’s declining fuel imports, which have fallen below 200,000 barrels per day from approximately 500,000 b/d in early 2023, reflecting the growing impact of domestic refining capacity.
