Dangote Petroleum Refinery has announced a fresh reduction in the prices of petrol and diesel, bringing relief to consumers across the country.
The development was disclosed in a press statement issued by the management of the refinery on March 10, 2026.
Under the new pricing template, the gantry price of Premium Motor Spirit (PMS), also known as petrol, dropped from ₦1,175 to ₦1,075 per litre, representing a ₦100 reduction. The coastal price also fell from ₦1,150 to ₦1,028 per litre, a cut of ₦122.
Automotive Gas Oil (diesel) recorded a sharper drop, sliding from ₦1,620 to ₦1,430 per litre, a decrease of ₦190.
The refinery said the move shows that its pricing structure responds to shifts in the international crude oil market and reflects what it described as a fair system.
“This decision is intended to assure Nigerians that the pricing mechanism remains responsive to global market dynamics and indicative of our fair pricing system,” the company stated.
It explained that the step was taken after a fall in global crude oil prices, stressing that the refinery works within strict corporate governance and ethical standards.
“As responsible corporate citizens operating in a high-governance code and ethical environment, we believe it is imperative to reduce the price of our products as a reflection of the decline in global crude oil prices. All our crudes are priced on the global benchmark price plus $3 to $6 additional premium. Our forex is paid at prevailing market rate of the day with no subsidy in both crude and forex.”
The statement also clarified the framework for crude supplied under the naira-for-crude arrangement.
“For the avoidance of doubt, the crude supplied under the Naira-for-Crude arrangement is priced according to the global benchmark price plus a premium which is then converted to naira using the prevailing market exchange rate.”
The company noted that it reviewed petrol prices several times in 2025, saying the adjustments were guided by what it described as a sense of duty to the country.
“In 2025, we reduced our gantry price not less than eight times, while increasing it only twice. This is borne out of a sense of economic patriotism and a duty to the people of Nigeria.”
The refinery also restated its position on the pricing of refined products.
“We affirm our commitment to set prices of refined products by passing on the benefits to all Nigerians across the 36 states of the Federation and the Federal Capital Territory.”
It added that the refinery remains focused on supporting the country’s energy needs while taking into account the economic situation faced by citizens.
