Dangote Refinery Cuts Petrol Price by N100, Says Fuel Shortages in Nigeria Are Over
Story: written by Zara March 11,2026
The Dangote Petroleum Refinery has announced a significant reduction in the prices of petrol and diesel, a move aimed at easing the financial pressure on Nigerians and supporting economic stability.
Under the revised pricing structure, the gantry price of Premium Motor Spirit (PMS), widely known as petrol, has been reduced from N1,175 to N1,075 per litre, reflecting a N100 drop. The coastal price was also lowered from N1,150 to N1,028 per litre, representing a N122 reduction.
Diesel, also referred to as Automotive Gas Oil (AGO), saw an even larger cut, with its price falling from N1,620 to N1,430 per litre — a decrease of N190.
Management of the refinery explained that the adjustment reflects its commitment to fair and transparent pricing that responds to global energy market trends. According to the company, the reduction aligns with the recent decline in international crude oil prices.
The refinery also noted that crude oil processed at the facility is purchased at the global benchmark price with an added premium of between $3 and $6 per barrel. Payments for crude and foreign exchange transactions are conducted at prevailing market rates, with no subsidies applied.
Even under the Naira-for-crude arrangement, the company stated that crude supplies are priced according to the international benchmark and converted to naira using the current exchange rate.
The refinery disclosed that throughout 2025 it reduced petrol prices several times, increasing them only on a few occasions, describing the approach as part of its economic responsibility and commitment to Nigerians.
The Managing Director of the refinery, David Bird, also reassured citizens that Nigeria will no longer face fuel shortages, even amid instability in the global oil market.
According to him, while many countries that rely heavily on fuel imports are experiencing panic buying and rationing, Nigeria now enjoys greater energy security due to its growing domestic refining capacity.
Bird pointed out that tensions in the Middle East recently pushed crude prices sharply higher — jumping from the mid-$60 range to nearly $120 per barrel within a week — disrupting global supply chains and raising shipping and insurance costs.
Despite these challenges, he said the refinery has continued to supply fuel steadily to the domestic market.
He added that as long as the refinery receives crude oil supplies from the Nigerian government and the Nigerian National Petroleum Company Limited (NNPCL), it will remain fully capable of meeting the country’s fuel demand.
Bird emphasised that with consistent crude supply and government support, the refinery will continue to provide sufficient refined petroleum products for Nigeria’s energy needs.
