Dangote Refinery has confirmed that its ex-depot price for petrol remains at N699 per litre. The company announced this via its official social media account on Thursday, noting that the product is available for collection by petroleum marketers. This development comes as the pump price of petrol in Abuja has dropped to a range of N739 to N912 per litre.

The 650,000 barrel-per-day refinery had previously reduced its ex-depot price for petrol by N129, from N828 to N699 per litre, last week. This move led to a price reduction among private depot owners, with prices ranging from N703 to N800 per litre.

In a statement, the President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, encouraged members to purchase petrol from Dangote Refinery. He expressed excitement about the recent agreement between the refinery and IPMAN, which will enable direct supply of petrol to registered members and offer free delivery to their filling stations across Nigeria, starting from January 2026.

The development is expected to improve the supply of petrol in the country and help stabilize prices. With Dangote Refinery’s production capacity and commitment to supplying petrol directly to marketers, the Nigerian oil and gas industry may experience significant changes in the coming months. As the country’s largest refinery, Dangote’s decision to maintain its current ex-depot price is likely to have a positive impact on the market, contributing to a more stable and competitive pricing environment.

The reduced ex-depot price and upcoming direct supply arrangement are anticipated to benefit both petroleum marketers and consumers, potentially leading to lower retail prices for petrol. As Nigeria’s downstream oil and gas sector continues to evolve, developments like these will be closely watched by industry stakeholders and observers alike.