The Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for Premium Motor Spirit (petrol) to N1,200 per litre and fixed its coastal price at N1,153 per litre, a move expected to influence fuel costs across Nigeria’s downstream distribution chain.
The adjustment was announced by the spokesperson of the Dangote Group, Anthony Chiejina, who said the decision reflects a downward review of the refinery’s pricing template amid global oil market uncertainties.
“Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for petrol to N1,200 per litre and its coastal price to N1,153 per litre, a move that comes amid ongoing tensions in the Middle East that continue to influence global oil markets.
“The adjustment marks a downward review in the refinery’s pricing structure and is expected to influence fuel supply costs across distribution channels, including depots and retail outlets,” Chiejina said.
The new gantry price is expected to prompt marketers to adjust their landing costs, particularly those sourcing fuel locally instead of importing.
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Similarly, the coastal price of N1,153 per litre is projected to impact marine deliveries to coastal depots, offering distributors in southern regions an alternative supply channel.
The price cut follows a series of increases triggered by the US-Iran conflict, which began on February 28. Petrol prices had risen from about N840 per litre before the crisis to an average of N1,300 as of Thursday. The latest reduction from N1,275 to N1,200 per litre is expected to slightly ease pump prices below N1,300.
Meanwhile, the refinery is grappling with crude supply challenges linked to its arrangement with the Nigerian National Petroleum Company Limited, with reports indicating a shortfall of about 79.53 million barrels between October 2025 and mid-March 2026.
The facility, which requires approximately 19.77 million barrels of crude monthly to operate at full capacity, reportedly received far less during the review period.
A senior management source at the refinery noted that the development contradicts provisions of the Petroleum Industry Act, which prioritise domestic supply before export. The official added that the $20bn Lekki-based plant has continued to face inadequate crude supply despite ongoing oil exports through NNPC.
A breakdown of deliveries shows the refinery received 4.55 million barrels in October, 6.45 million barrels in November, 4.30 million barrels in December, 5.65 million barrels in January, and 4.66 million barrels in February. Between March 1 and 15, only 3.6 million barrels were supplied.
The Managing Director of the refinery, David Bird, had also disclosed that the plant receives just five cargoes of crude instead of the 13 cargoes agreed under the naira-for-crude deal.
