Dangote Refinery Price Cut Triggers Modest Relief at the Pumps

A downward adjustment of ex-depot prices by the Dangote Petroleum Refinery on Sunday has begun to filter through to retail outlets, with a number of filling stations along the Lagos–Ibadan Expressway and in parts of Lagos and Ogun states now selling petrol below ₦1,300 per litre.

The refinery reduced the gantry price of petrol from ₦1,275 to ₦1,250 per litre, and diesel from ₦1,800 to ₦1,700 per litre. Company officials attributed the review to the recent softening of global crude oil prices, describing the move as part of a sustained effort to deliver more affordable refined products and ease cost pressures on Nigerian households and businesses.

Field observations along the Mowe/Ibafo corridor of the expressway confirmed that several independent marketers promptly reflected the adjustment. MRS filling stations lowered their pump price to ₦1,286 per litre, NIPCO and Heyden retailed at ₦1,290, and SGR set its price at ₦1,297. In the diesel segment, many stations cut their rates to ₦1,800 per litre, down from ₦1,900.

Despite the general downward trend, numerous retail outlets continue to dispense petrol above the ₦1,300 threshold. Outlets operated by the Nigerian National Petroleum Company Limited (NNPC) in Ibafo adjusted to ₦1,305 per litre, while Mobil and Asharami sold at ₦1,310 and ₦1,320 per litre, respectively.

The price moderation follows an extended period of elevated fuel costs, during which the pump price of petrol surged from approximately ₦830 per litre to well over ₦1,300—driven partly by global crude oil climbing past $115 a barrel amid heightened tensions between the United States and Iran.