Dangote Petroleum Refinery has reduced the ex-depot price per litre of petrol from N880 to N840.
This was made known in an update on X (formerly Twitter) on Tuesday.
The company stated that the new ex-depot price took effect on Monday, June 30, 2025, about a week after the Lagos-based refinery jacked up the ex-depot price per litre of petrol to N880.
Checks by Nairametrics reveal that filling stations like MRS Oil & Gas, Ardova Plc, Heyden, and others with special agreements with the Dangote Refinery are expected to reduce their pump price to below N900 to reflect the marginal reduction in the ex-depot price of the premium commodity.
The N40 reduction followed a decline in oil prices on Monday, after the two-week Middle East conflict between Israel and Iran eased following an earlier ceasefire.
The ceasefire between the two countries saw Brent crude fall 16 cents, or 0.24%, to close at $67.61 a barrel from around $80 a barrel after the United States bombed Iran’s nuclear facilities.
Dangote announces free petrol distribution nationwide
On Sunday, June 15, 2025, the $20bn Lagos-based refinery announced the free distribution of petrol and diesel to marketers, dealers, and other large users across the country.
The refinery said it has procured 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers for the take-off of the initiative on August 15, 2025.
This disclosure is contained in a statement issued by the Dangote Group on Sunday, June 30, 2025, where it provided an update on the refinery’s investment in 4,000 Compressed Natural Gas (CNG) powered trucks for the scheme.
Dangote refinery, in its statement, pointed out that the energy firm will absorb over N1.07 trillion annually in fuel distribution costs.
The statement reads, ‘’Dangote Petroleum Refinery has invested over N720 billion to implement its landmark initiative of deploying 4,000 Compressed Natural Gas (CNG)-powered trucks for the nationwide distribution of petroleum products, which is expected to save Nigerians over N1.7 trillion annually.
‘’This bold step will see the privately-owned refinery absorb over N1.07 trillion annually in fuel distribution costs. The initiative is also poised to significantly benefit over 42 million Micro, Small and Medium Enterprises (MSMEs) by reducing energy costs and enhancing profitability.
‘’The initiative, which eliminates transportation costs for fuel marketers and large-scale consumers, is expected to help reduce pump prices and inflation. From 15 August, Dangote will begin the direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers.’’
According to a statement from the refinery, it aims to meet Nigeria’s daily consumption of 65 million litres of refined petroleum products. This includes 45 million litres of Premium Motor Spirit (PMS), 15 million litres of diesel, and 5 million litres of aviation fuel.
What you should know
The reduction is coming five days after the Nigerian National Petroleum Company (NNPC) Limited raised pump prices to N915 per litre.
This latest reduction is part of Nigeria’s broader move away from fuel subsidies. Since mid-2023, petrol prices have been determined by market factors, primarily the international cost of crude oil and the exchange rate of the naira.
