By Muhammad Mamman
Nigeria’s largest privately owned refinery, the Dangote Refinery, has announced a significant reduction in the price of petrol, lowering the gantry price by ₦100 to ₦1,075 per litre.
The adjustment was contained in the refinery’s latest pricing template issued on March 10, 2026.
According to the document, the price of Premium Motor Spirit (PMS), commonly known as petrol, at the gantry has been reduced from ₦1,175 to ₦1,075 per litre. The refinery also introduced a slightly lower price of ₦1,050 per litre for coastal supply, reflecting minor adjustments linked to maritime distribution costs.
Industry observers say the reduction could influence pump prices across the country if marketers pass on the savings to consumers.
The refinery also announced a sharp reduction in the price of Automotive Gas Oil (AGO), commonly known as diesel. The gantry price of diesel has been cut to ₦1,430 per litre, representing a ₦190 decrease from the previous price of ₦1,620 per litre.
Officials at the refinery noted that the quoted gantry prices exclude statutory charges imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, which may affect the final retail cost.
The price adjustment comes amid ongoing efforts to stabilise Nigeria’s fuel market following the country’s shift away from fuel subsidies and increasing reliance on domestic refining.
The Dangote Refinery, located in Lagos, is widely expected to play a pivotal role in reducing Nigeria’s dependence on imported refined petroleum products and easing pressure on foreign exchange demand.
