Dangote Refinery has announced a further reduction in the ex-depot price of Premium Motor Spirit (PMS), dropping it to N835 per litre from N865 per litre, as revealed in a notice to customers on Wednesday morning. This marks a fresh N30 decrease in petrol prices, following a prior reduction to N865 per litre six days ago.
The $20 billion facility’s latest price cut is expected to prompt partners like MRS filling stations to lower their retail prices from N940 per litre in the coming days. The move comes amid efforts to stabilize fuel supply, with the Nigerian Port Authority and the Major Energies Marketers Association of Nigeria reporting that marketers have received approval to import 117,000 metric tonnes—equivalent to 156.897 million litres—of petrol between April 8 and 16, 2025.
However, the Independent Petroleum Marketers Association has noted that significant price drops may be limited due to demand-supply dynamics and the depreciation of the naira, despite the renewed naira-for-crude deal involving the Nigerian government, Dangote Refinery, and other refiners.
