Dangote Petroleum Refinery and Petrochemicals has reviewed its ex-depot (gantry) loading cost of petrol to ₦867 per litre.
Sources confirmed that the $20 billion refinery notified its marketers and customers of the new pricing on Thursday.
An official from the refinery, confirmed the price adjustment from ₦880 to ₦865 per litre.
Following the price drop, fuel stations such as MRS Oil & Gas, Ardova Plc, Heyden, and others with exclusive supply arrangements with the refinery are expected to lower their pump prices to around ₦910 per litre in response to the revised rate.
The reduction comes shortly after a meeting between officials from the Dangote Refinery and the Minister of Finance, Wale Edun, held on Tuesday.
At the end of the meeting, the government said that the naira-for-crude was still in effect and that the initiative was not a temporary measure but a “key policy directive designed to support sustainable local refining”.
The government also said the initiative is still in effect and will continue immediately, overruling the decision of the NNPCL under its former boss Mele Kyari which tenured the initiative.