The pump price of petrol is expected to drop below N900 per litre as the Dangote refinery reduces the ex-depot price of the product from N850 to N820 per litre on Tuesday.
A statement signed by the Dangote Group Chief Branding and Communications Officer, Anthony Chiejina, disclosed the price cut on Tuesday. “Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, commonly referred to as petrol, by N30 from N850 to N820 per litre, effective from 12th August 2025.
“As part of our unwavering commitment to national development, Dangote Petroleum Refinery assures the public of a consistent and uninterrupted supply of petroleum products,” the statement read partly.
The PUNCH reported earlier that filling stations raised their pump prices to N900 and above despite a decline in crude prices over the weekend. Retail outlets owned by the Nigerian National Petroleum Company Limited have raised petrol prices to N900 per litre in Lagos and Ogun State, even as crude prices dropped from nearly $69 to $66 per barrel.
Dangote refinery partners, including Ardova and Heyden, jerked prices above N900 per litre. It was observed that filling stations along the Lagos-Ibadan Expressway displayed different prices on Monday, confirming a new price regime despite no significant rise in crude prices or the naira-dollar exchange rate.
However, Dangote’s price cut is expected to return pump prices of PMS to N865 in Lagos and N875 in Ogun and environs. The National Publicity Secretary of the Petroleum Products Retail Outlet Owners Association of Nigeria, Joseph Obele, had said that marketers were expecting a drop in fuel prices this week.
Meanwhile, the Dangote refinery added that in line with its dedication to operational excellence and sustainable energy solutions, it would commence the phased deployment of 4,000 Compressed Natural Gas (CNG)-powered trucks for fuel distribution across Nigeria from August 15.
“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 Compressed Natural Gas-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” the statement said.