The Dangote Petroleum Refinery has announced a reduction in the ex-depot price of petrol from ₦840 to ₦820 per litre, effective from Wednesday, July 9, 2025, offering a reprieve to fuel marketers and consumers grappling with rising costs.
The decision was detailed in an official statement released by the refinery’s management on Tuesday, July 8, 2025, highlighting improved operational efficiency and a steady supply of crude oil as the driving factors. Located in the Lekki Free Zone, the 650,000-barrel-per-day facility, Africa’s largest single-train refinery, has been a cornerstone of Nigeria’s efforts to achieve fuel self-sufficiency since beginning petrol production in late 2024.
The price cut, the second of the year following a similar adjustment in March 2025, is expected to translate to a reduction of approximately ₦10 to ₦20 per litre at retail pumps, depending on individual marketer margins and transportation costs. The refinery’s Managing Director, Devakumar Edwin, emphasized that the move aligns with the company’s mission to support Nigeria’s economy, particularly as the federal government continues its gradual phase-out of fuel subsidies initiated in 2023.
Petroleum marketers, including the Major Oil Marketers Association of Nigeria (MOMAN), have welcomed the change, with plans to adjust prices at filling stations across the country by the end of the week. The development has prompted cautious optimism among consumers, though industry experts caution that global oil price fluctuations and local distribution challenges could influence the sustainability of the reduction.
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