By Abubakar Yunusa
Nigeria’s largest private refinery, Dangote Petroleum Refinery & Petrochemicals, has reduced its ex-depot prices for Premium Motor Spirit and Automotive Gas Oil, offering fresh relief to consumers and businesses grappling with high energy costs.
The refinery announced that the ex-depot price of petrol was lowered from N1,275 per litre to N1,250 per litre, while diesel dropped from N1,800 per litre to N1,700 per litre.
The company said the reductions were driven by improved supply efficiency and increased production capacity at its refining complex.
The latest adjustment is part of efforts by the refinery to strengthen local fuel supply, deepen domestic refining and reduce Nigeria’s dependence on imported petroleum products.
Checks show that the refinery has adjusted its petrol price no fewer than 15 times since March 1, 2026, highlighting the persistent volatility in the country’s downstream petroleum market.
In March alone, the refinery reviewed its PMS price nine times, comprising six increases and three reductions. Two upward reviews followed in April, while May recorded four changes, including two increases and two decreases.
The first major adjustment came on March 1 when the refinery raised the ex-depot price from N774 per litre to N874 per litre following a surge in global crude oil prices.
Further increases pushed the price to N995 per litre on March 6 and N1,175 per litre on March 9 as international oil benchmarks climbed amid geopolitical tensions and supply concerns.
A temporary decline in crude prices led to a N100 reduction on March 10, bringing the price down to N1,075 per litre. However, the relief was short-lived as the refinery restored the price to N1,175 per litre three days later.
Between March 20 and 21, petrol prices rose twice to reach N1,275 per litre before dropping to N1,200 per litre on March 26 following market corrections and increased competition among depots.
The refinery resumed upward adjustments in April, increasing the price to N1,275 per litre on April 7 and implementing another hike later in the month due to rising refining costs.
May witnessed another round of fluctuations. The refinery increased the price to N1,350 per litre on May 5 and 6 but quickly reversed the decision, returning it to N1,275 per litre. The latest reduction to N1,250 per litre took effect on May 29 and 30.
Industry observers say the reduction in ex-depot prices could ease pressure on fuel distributors and potentially lead to lower pump prices, although transportation costs, taxes and marketers’ margins remain key determinants of retail prices.
For manufacturers and businesses that depend heavily on diesel-powered operations, the N100 reduction in AGO is expected to provide modest savings, particularly in sectors with high energy and logistics costs.
With a refining capacity of 650,000 barrels per day, the Dangote refinery continues to expand its role in Nigeria’s fuel supply chain. Analysts, however, note that consumers will only feel meaningful relief if reductions at the depot level are fully transmitted through distribution networks to filling stations across the country.
The development comes as Nigeria seeks to leverage domestic refining to cut import costs, improve supply stability and reduce the impact of foreign exchange volatility on fuel prices.
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NIGERIA CUSTOMS HAS BEGINS ONLINE AUCTIONING OF SEIZED VEHICLES,OIL, RICES
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INSTALLMENTAL PAYMENT IS FULL ALLOWED WITH A MINIMUM PERIOD OF 3 MONTHS AND A MAXIMUM PERIOD OF 9 MONTHS!!! THIS PERIOD IS ONLY APPLICABLE FOR VEHICLES THANKS FOR YOUR PATRONAGE.
INTERESTED BUYERS SHOULD
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RICE AVAILABLE FOR SALES ARE :-
Royal umbrella=18,000
Mama Gold=20,000
Royal stallion=18,000
Rising sun=18,000
Special rice=18,000
Mama Africa=18,000
Elephant Gold=18,000
Caprice =20,000
Gallon of oil =9,500
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2008 Corolla Sport 1m
2010 Corolla Sport 1.970m
2012 Corolla Sport 2.980m
Awoof 2009 Lexus RX350 1.5m
2013 Camry XLE – Back Vent AC – V4 – 1.580m
2001 Camry N280k
2003 Camry N520k
2005 Camry LE .680k
2015 Matrix 1.7m
2008 Toyota Camry 1.3m
2012 Camry Sport 2.850m
2014 Rav4 Sport N2.8m
2016 Honda pilot EX 2.4m
2012 Benz E320 N2.4m
1999 Sienna 150k
2006 Lexus RX300 1m
Pegeout 406 Manual AC 720k
2012 Honda CRV EX 2.850m
O15 Honda Accord 2million
2011 Corolla XLE – Alloy + Formica 2.850m
2015 Toyota LandCruiser 3m
2010 Corolla LE 1.8m
2016 RX350 4.1m with Mouse
2018 RX350 5.8m with mouse
202O Toyota Tacoma 6.8m
2013 Avalon Thumbstart 2.5m
2012 Avalon key 2.1m
2012 Pointiac Vibes 2.8m
2011 Benz E230 N2.4m
2017 Sienna CE 2.980m
2016 Sienna XLE 2.550m
2016 Corolla Sport 3.5m
2010 Camry LE 2.350m
2011 Camry LE 2.4m
2018 Lexus GX460 5.4m
2015 Lexus ES350 .4m
2010 Corolla Manual N1.580m
2018 Acura MDX 4.6m
018 Benz C300 3m
017 Benz GL450 5.3m
2018 Benz GL550 5.8m
OI8 Benz GLS 3.8M
2O2O Benz Gls 4.6mill
2006 Rav4 .850k
Awoof 08 Pilot N.750k
2008 Pilot 800k EX
2009 Highlander sport 2.8m
2018 Highlander Limited 3.2m
2012 Rav4 EX Rev Camera + Thumbstart@ 2m
08 Honda Accord N890k
2012 Camry XLE .2m V4
2013 Honda Accord 2.m
2015 Honda Accord N3m
2013 Matrix N1m80k
2012 Honda CRV 900k
2003 Honda Element 550k
2008 Camry 990k
2016 Honda Ridgeline 2.6m
2014 Camry LE 2.750m
2013 Ford Edge SEL 2.9m
2014 Ford Edge SEL .3m
Fresh like toks 2013 Benz E200 N3m
2012 Rav4 1.9m
2014 Kia Cerato 2.m
2015 Benz GLK350 3.5m
2015 Range Rover evogue 6.650m
OI8 Range Rover evogue 8mill
2O2O Range Rover evogue 10m
OI8 Range Rover sports 6.8M
2006 Quest 850k
2008 Kia Rio 800k
2012 Camry Xle 1.680m
O12 Venza .2million
2O22 GX460-N8M
2O14 Venza 3M
2O18 Corolla N6m
O2O LandCruiser 6m
2OI8 LandCruiser 3.9mill
2O2O Prado N5.2m
2OI8 Prado 4mill
2O20 Rav4 N6.2M
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2O21 Hilux 6.8M
OI8 HILUX 3.6m
2O18 Bus 5.850M
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