The Dangote Group has once again reduced the ex-depot (gantry) price of petrol supplied from its refinery nationwide, bringing the rate down to N1,125 per litre from N1,175 per litre.
The latest adjustment represents a reduction of N50 per litre and was confirmed on Thursday by the Group’s spokesperson, Anthony Chiejina, who stated that the revision reflects recent movements in global crude oil prices.
“It is true our petrol gantry price was reduced by N50 per litre,” Chiejina said, confirming the development.
Alongside the petrol price cut, the refinery also reduced its coastal petrol supply price from N1,495,215 per metric tonne to N1,428,165 per metric tonne. The adjustments are expected to have a knock-on effect across the downstream petroleum sector, particularly among marketers and depot operators who rely on the refinery for domestic fuel distribution.
The price reduction comes amid a notable decline in international crude oil prices, which have reportedly fallen to between $69 and $73 per barrel. This range is widely regarded as a return to pre-Middle East crisis levels, following months of volatility in the global energy market.
This is not the first price cut in recent weeks. On 16 June, the refinery reduced its gantry petrol price by N75 per litre, a move that triggered subsequent retail price adjustments across several filling stations nationwide. Cumulatively, the refinery has lowered its petrol gantry price by N125 per litre within a two-week period, coinciding with easing global crude prices.
Despite these reductions at the ex-depot level, retail petrol prices across Nigeria remain relatively high. Current pump prices are estimated to range between N1,241 and N1,305 per litre in Abuja and surrounding areas, depending on the marketer and location.
However, public expectations remain high, with many Nigerians calling for further reductions at the pump to between N800 and N900 per litre, levels last seen before the Iran–United States–Israel conflict escalated on 28 February 2026, which significantly disrupted global energy markets and contributed to earlier price surges.
Analysts suggest that while ex-depot reductions are a positive signal, the extent to which consumers benefit will depend on distribution costs, margins set by marketers, and broader regulatory dynamics within the downstream sector.