In a welcome move for Nigeria’s beleaguered fuel market, the Dangote Refinery has reduced its ex-depot petrol price to ₦828 per litre, down from ₦877, a 5.6% cut that takes effect immediately.
Depot operators in Lagos confirmed loading commenced at the new rate early Friday morning, with industry sources predicting a ripple effect that will ease pump prices at retail stations nationwide within days.
The price adjustment comes as the 650,000 barrels-per-day mega-refinery prepares to receive five crude cargoes in December from NNPC Ltd.
The shipments, comprising Amenam, Bonny Light, CJ Blend, Forcados, and Qua Iboe grades will sustain steady output and further stabilize supply.
“This reduction will bring much-needed relief after weeks of elevated costs,” a senior marketer at a Lagos depot told journalists.
“We expect stations to begin reflecting the drop by early next week.”
The cut marks the second downward adjustment in recent months and underscores Dangote’s growing influence on domestic pricing dynamics, offering respite to transporters, businesses, and households grappling with persistent fuel scarcity and inflation.
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