The Dangote Petroleum Refinery has cut its petrol gantry price by N25 per litre, lowering the cost from N1,275 to N1,250. The adjustment, confirmed by a senior Dangote Group official who spoke on condition of anonymity, was attributed to a recent decline in global crude oil prices. “We have reduced the petrol price to N1,250 at our gantry. This has to do with the current reduction in global oil prices, though everything is still volatile and requires caution,” the official said.
The move comes at a time when Nigerians are grappling with soaring fuel costs. Pump prices have risen sharply in recent months, climbing from about N830 per litre to around N1,300 in several parts of the country. Depot prices have also been fluctuating, with Aiteo and NIPCO selling petrol at N1,272 per litre, while Integrated Energy, Ascon, and African Terminal were trading around N1,274 per litre, slightly below Dangote’s previous N1,275 rate. The refinery’s decision is expected to influence pricing across the downstream petroleum sector, particularly among marketers sourcing products directly from Dangote.
For many Nigerians, however, the reduction feels symbolic rather than transformative. On social media, reactions were mixed. One user wrote on X: “N25 reduction is something, but pump prices are still killing us. Transport fares haven’t dropped.” Another commented: “Dangote is responding to global oil prices, but marketers will still inflate at the stations. Until filling stations reflect it, commuters won’t feel relief.” A Lagos transport operator echoed the sentiment, saying, “Even with this cut, we’re still buying at N1,300. Until filling stations reflect it, commuters won’t feel relief.”
Policy analysts have also weighed in. Joseph Obele of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said the refinery’s recent price cuts, including diesel and aviation fuel, show it is reacting to competition and import pressures. He cautioned, however, that volatility in crude markets means prices could rise again. Businesses and transport operators remain wary, noting that diesel and aviation fuel prices have also surged in recent months, raising costs across logistics and air travel.
The Dangote Refinery, Africa’s largest single-train refinery, has become a key player in Nigeria’s fuel market since its commissioning. Its pricing decisions carry significant weight, often setting the tone for other depots and marketers. While the latest adjustment offers some relief, many Nigerians argue that the impact will only be meaningful if pump prices at filling stations reflect the reduction. For now, the N25 cut is seen as a cautious response to global oil price movements, but the broader struggle with affordability continues to dominate public discourse.
