BREAKING: Dangote Refinery Slashes Petrol Prices Nationwide for Second Time in One Week

Last updated Apr 17, 2025

In a show of significant transparency in an industry seen as largely opaque, the Dangote refinery, for the second time in one week, on Wednesday, announced the nationwide reduction of petrol prices coming out from its facility.

This emerged same day the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mr. Bashir Bayo Ojulari, reaffirmed his commitment to forging strong and effective partnerships with key stakeholders to successfully deliver on the strategic mandate entrusted to him by President Bola Tinubu.

In a statement issued on Wednesday by the Chief Corporate Communications Officer of NNPC, Mr. Olufemi Soneye, quoted Ojulari to have made the pledge during a courtesy visit to the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri

In the statement by the Group Chief Branding and Communications Officer of the Dangote Group, Anthony Chiejina, on the petrol price reduction, the refinery noted that the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, has now fallen from N865 to N835 per litre.

The refinery noted that Nigerians can now purchase petrol at lower prices from its partner retail stations nationwide, including MRS, AP (Ardova), Heyden, Optima Energy, Hyde and Tecno Oil.

“Dangote Petroleum Refinery is pleased to announce a reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from N865 to N835, effective from Wednesday, 16 April 2025. This marks the second price reduction within a week.

“High-quality Dangote petrol will now be available at the following prices across all our partner retail outlets: Key partners, including MRS, AP (Ardova), Heyden, Optima Energy, Hyde and Tecno Oil, will offer petrol at N890 per litre, down from N920 in Lagos.

“In the South-west, the price will be N900 per litre, reduced from N930. In the North-west and North-central, the price will be N910 per litre, lowered from N940. In the South-east, South-south, and North-east, the price will be N920 per litre, down from N950.

“These price reductions reaffirm our commitment to providing high-quality petrol at affordable rates, benefiting consumers across the nation. In addition, we are working collaboratively with our partners to ensure equitable reflection of this price reduction,” the statement from the company stated.

Before the coming of the refinery, landing prices, which in turn determine the rates at the pumps, were rarely made available by marketers, while consumers were kept in the dark even when the dynamics affecting the prices of petroleum products changed.

The industry regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has for years not helped matters, barely providing any information to the public on the parameters for the pricing of petroleum products in the country.

In other climes, consumers of petroleum products can determine even how much they will spend on the products for the next month, given the alterations in factors which dictate retail prices.

But in a statement on Wednesday, Dangote Petroleum Refinery said it has consistently worked to reduce the prices of petrol and other refined petroleum products, ensuring the continued benefit to Nigerian consumers.

It added: “For example, in February, the refinery reduced prices twice by N125. In addition, products such as diesel and Liquefied Petroleum Gas (LPG) have also experienced significant price reductions due to the refinery’s sustained efforts.”

The management of the facility explained that it anticipates that this latest reduction in petrol prices would generate a positive ripple effect throughout various sectors of the economy, providing much-needed relief to consumers and contributing to broader economic growth, particularly during the Easter season.

According to the Dangote Petroleum Refinery, the company remains steadfast in its commitment to ensuring a steady supply of premium-quality petroleum products, with sufficient reserves to meet domestic demand, along with a surplus for export.

“This strategy is designed to support the stability of the domestic market while also contributing to the growth of Nigeria’s foreign exchange reserves.

“Furthermore, Dangote Petroleum Refinery calls on industry stakeholders, including marketers and distributors, to continue sourcing their products from the refinery, ensuring that the benefits of these price reductions are fully realised across the country,” the company added.

Meanwhile, the Group Chief Executive Officer of the NNPC, Mr. Bashir Bayo Ojulari, has reaffirmed his commitment to forging strong and effective partnerships with key stakeholders to successfully deliver on the strategic mandate entrusted to him by Tinubu.

A statement issued on Wednesday by Soneye, quoted Ojulari to have made the pledge during a courtesy visit to the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri

He underscored a shared vision of progress and performance for Nigeria’s oil and gas industry.

The GCEO emphasised that he and his executive leadership team were stepping into office with a spirit of collaboration and a deep resolve to make a lasting impact.

He noted that NNPC Ltd’s success would depend on close synergy with the Ministry of Petroleum, the Ministry of Finance, and other relevant institutions to break through bureaucratic barriers and accelerate results.

“We are here with a mindset of partnership—partnership with the Ministry of Petroleum Resources, with the Ministry of Finance, and with all other critical stakeholders. Our goal is to bridge gaps, foster alignment, and move forward with a united front. Antagonism benefits no one; collaboration is how we win,” Ojulari stated.

In response, Lokpobiri expressed strong confidence in the new leadership of NNPC Ltd., noting that he has known many members of the management team personally and has received outstanding reports about their professional capabilities.

“This is arguably the strongest leadership team NNPC Ltd has ever assembled. Now is the time to translate that reputation into measurable results—especially in increasing crude oil production and ensuring the sector delivers optimal value to the Nigerian people.”

The minister assured Ojulari of his unwavering support and strategic guidance, adding that his office would work closely with the GCEO to provide the enabling environment for NNPC Ltd to thrive and deliver on its national mandate.

“This renewed spirit of partnership signals a new chapter for the oil and gas industry, marked by purposeful collaboration, operational excellence, and a shared commitment to national development” the statement added.

Emmanuel Addeh and Peter Uzoho