Manny Ita –
There was relief for motorists and petroleum marketers on Tuesday as the Dangote Petroleum Refinery announced a reduction in the gantry price of Premium Motor Spirit (PMS) from ₦799 to ₦774 per litre, a move aimed at easing cost pressures across the downstream petroleum sector. The price adjustment takes immediate effect and is expected to influence pump prices nationwide, depending on logistics and distribution costs.
The refinery said the decision was part of ongoing efforts to stabilise the domestic fuel market and support marketers amid rising operational expenses. In a statement released by the company, it noted that the price cut was designed to reduce the financial strain on fuel distributors and ultimately deliver some relief to consumers. According to the refinery, “This adjustment is intended to support our partners in the downstream sector and ensure more affordable fuel supply for Nigerians.”
Industry stakeholders noted that the reduction could help moderate retail prices if sustained, particularly as marketers factor in transportation, storage, and other associated costs. A senior downstream operator welcomed the development, saying, “Any reduction at the gantry level is a positive signal. It gives marketers some breathing space and can translate into lower pump prices if distribution challenges are well managed.”
The Dangote Petroleum Refinery, Africa’s largest single-train refinery, has positioned itself as a key player in Nigeria’s energy supply chain since commencing phased operations. Analysts say price adjustments by the refinery are closely watched, given its growing role in reducing fuel imports and improving supply stability in the country.
Market observers also pointed out that while the gantry price cut offers immediate relief, sustained benefits to consumers will depend on exchange rate movements, crude oil prices, and government policies affecting the downstream sector. The refinery reiterated its commitment to supporting Nigeria’s energy security and economic stability, stating that it would continue to review pricing in line with market realities and national interest.
