Dangote Refinery Cuts Petrol Price to N840 per Litre
Dangote Petroleum Refinery has announced a reduction in the ex-depot price of petrol from N880 to N840 per litre, effective June 30, 2025.
The price adjustment was confirmed on Monday by the refinery’s spokesperson, Chief Tony Chiejina. This change comes just a week after the refinery had increased the ex-depot price to N880 per litre.
The N40 reduction is attributed to a recent drop in global crude oil prices, with Brent crude declining by 16 cents (0.24%) to close at $67.61 per barrel, following a ceasefire between Israel and Iran that eased geopolitical tensions in the Middle East.
The revised pricing is expected to offer relief to consumers and fuel marketers. Retailers with special agreements with the refinery—such as MRS Oil & Gas, Ardova Plc, and Heyden—are likely to adjust their pump prices to below N900 per litre.
From August 15, 2025, Dangote Refinery will begin direct distribution of petrol and diesel to filling stations, industrial facilities, and other large-scale users. This initiative is expected to save over N1.07 trillion annually in fuel distribution expenses.
To support this move, the refinery has acquired 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers to boost fuel delivery capacity nationwide.
The price cut is anticipated to reduce inflationary pressures and provide much-needed relief to households and businesses burdened by high transportation and production costs. Over 42 million Micro, Small, and Medium Enterprises (MSMEs) are expected to benefit through lower energy costs and improved profitability.
