Dangote Refinery slashes petrol price

Dangote Petroleum Refinery has announced a strategic reduction in petrol prices, lowering the gantry price to ₦1,200 per litre and the coastal price to ₦1,153 per litre, marking its first downward review after five consecutive hikes in March 2026

Dangote Petroleum Refinery and Petrochemicals has announced a significant downward review of its petrol pricing structure, reducing its gantry price to ₦1,200 per litre. In a statement released on Thursday, March 26, 2026, the company’s spokesperson, Anthony Chijiena, confirmed that the coastal price has also been lowered to ₦1,153 per litre. This adjustment represents a ₦85 drop from the previous gantry rate of ₦1,285 per litre, signaling a strategic move by the 650,000-barrel-per-day facility to stabilize the domestic energy market following a period of extreme price volatility.

The latest reduction is particularly noteworthy as it follows at least five consecutive petrol price hikes implemented by the refinery since the beginning of March 2026. These previous increases were largely driven by heightened geopolitical tensions in the Middle East, which had placed immense pressure on global crude benchmarks and logistics. By initiating this price cut, the Dangote Refinery appears to be leveraging its massive production capacity to provide a buffer for the Nigerian economy, which has been reeling from the secondary inflationary effects of high energy costs on transportation and small businesses.

Industry analysts expect this pricing adjustment to have a ripple effect across the nation’s fuel distribution value chain. As the refinery lowers its rates at the gantry and coastal levels, competition is expected to intensify among independent marketers and depots, potentially forcing a reduction in pump prices at retail outlets. DAILY POST reports that this move is aimed at influencing fuel supply costs and ensuring that the benefits of local refining are more directly felt by Nigerian consumers who have struggled under the weight of a triple-digit inflationary spiral throughout the first quarter of the year.

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