Dangote Slashes Petrol, Diesel Ex-Depot Prices

The new prices, which take effect on Thursday, August 6, see the ex-depot price of petrol fall by ₦50 per litre to ₦1,165 from ₦1,215. Diesel has also been reduced by ₦80 per litre, with the ex-depot price dropping to ₦1,570 from ₦1,650 per litre.

Dangote Petroleum Refinery has reduced the ex-depot prices of Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (AGO), commonly referred to as diesel, in a move aimed at lowering fuel costs and improving access to refined petroleum products.

The new prices, which take effect on Thursday, August 6, see the ex-depot price of petrol fall by ₦50 per litre to ₦1,165 from ₦1,215. Diesel has also been reduced by ₦80 per litre, with the ex-depot price dropping to ₦1,570 from ₦1,650 per litre.

In a statement announcing the price adjustment, the refinery said the review reflects its commitment to making energy more affordable while ensuring a stable supply of high-quality petroleum products to the domestic market.

The company added that the reductions were driven by improved operational efficiencies, which it intends to pass on to consumers, businesses and other stakeholders whenever market conditions permit.

Dangote Petroleum Refinery said the price cut underscores its broader objective of supporting economic activities, strengthening Nigeria's energy security and reducing the country's reliance on imported refined products.

The refinery, Africa's largest, reaffirmed its commitment to contributing to Nigeria's economic growth through the consistent supply of world-class petroleum products and delivering greater value to the market.