Lagos, Nigeria – April 16, 2025 — The Dangote Petroleum Refinery has again reduced its ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to ₦835 per litre — marking the second price slash this month.
The Lagos-based $20 billion facility communicated the latest price adjustment to its customers on Wednesday, according to an official who confirmed the development to Channels Television. The price was reduced from ₦867 to ₦835 per litre.
Checks on petroleumprice.ng also confirmed the updated ex-depot rate.
Pump Price Expected to Drop Below ₦900
Retailers with off-take agreements from the refinery — including MRS Oil & Gas, Ardova Plc, and Heyden Petroleum — are expected to reflect the reduction at the pump, with prices likely dropping below ₦900 per litre.
Policy Discussions Drive Pricing Shift
The price reduction follows a recent meeting between Dangote Refinery representatives and the Minister of Finance, Wale Edun.
At the meeting, government reaffirmed that the naira-for-crude exchange policy remains in effect — a strategic move intended to boost sustainable local refining and reduce dependence on fuel imports.
The statement also reversed the earlier suspension of the policy under former NNPC Group Chief Executive, Mele Kyari.
A full statement from Dangote Refinery is expected shortly.
