The Dangote Petroleum Refinery and Petrochemicals has lowered its ex-depot, or gantry, price for premium motor spirit (PMS) to ₦1,200 per litre, a move anticipated to influence fuel costs across Nigeria’s downstream sector. The company also set a new coastal price of ₦1,153 per litre for marine deliveries.
According to a statement from Dangote Group spokesperson Anthony Chiejina, the adjustment represents a downward review from the previous gantry price of ₦1,275 per litre—a reduction of ₦75. This follows a period of price volatility, including an earlier increase from ₦1,175 to ₦1,245 per litre.
The change comes amid heightened geopolitical tensions in the Middle East, which have injected uncertainty into global oil markets, affecting shipping, insurance, and supply chains. Chiejina stated that while these external pressures persist, Nigeria’s growing local refining capacity, exemplified by the Dangote facility, provides a stabilising effect, offering some insulation from global shocks.
The revised pricing structure is expected to recalibrate landing costs for fuel marketers, particularly those sourcing domestically instead of importing. The lower coastal price specifically targets supply routes to southern depots via marine deliveries. Industry analysts note that reduced ex-depot prices typically ripple through to retail pump prices, potentially easing costs for consumers, though final retail rates depend on additional logistics and marketing margins.
This pricing shift underscores the significant role of the Dangote Refinery—one of Africa’s largest—in reshaping Nigeria’s energy landscape. For years, the nation depended heavily on imported refined products, exposing it to foreign exchange volatility and global price swings. The refinery’s operational capacity has steadily increased domestic supply, aiming to transform Nigeria from a net importer to a potential regional exporter.
The adjustment arrives as global oil markets remain sensitive to supply disruptions and policy decisions by major producers. While the immediate impact will be felt in the cost structure for distributors and depots, the longer-term effect on consumer pump prices will depend on market competition, distribution efficiencies, and the persistence of global price trends.
With this review, the Dangote Refinery signals its responsiveness to both market dynamics and domestic economic pressures, reinforcing its central position in Nigeria’s efforts to achieve fuel supply security and price stability. The development is being closely monitored by industry stakeholders and policymakers as a key indicator of how local refining can moderate fuel costs in a volatile global environment.
